Albany International Increases Dividend

Rhea-AI Summary

The Board of Directors of Albany International Corp. (NYSE: AIN) has announced a quarterly dividend of $0.25 per share on Class A Common Stock, marking a 19% increase from the previous $0.21. The dividend will be payable on January 9, 2023, to shareholders of record as of December 27, 2022. This increase reflects Albany's strong cash generation and the Board’s confidence in the company's growth prospects, as stated by President and CEO Bill Higgins.

Positive

• Dividend increased by 19% from $0.21 to $0.25 per share.
• Strong cash generation supports the dividend increase.
• Board's confidence indicates positive future growth prospects.

Negative

• None.

ROCHESTER, N.H.--(BUSINESS WIRE)-- The Board of Directors of Albany International Corp. (NYSE: AIN) today declared a quarterly dividend of $0.25 per share on the Company’s Class A Common Stock, an increase of 19% over the prior quarterly dividend of $0.21. The dividend is payable January 9, 2023, to shareholders of record on December 27, 2022.

“Today’s dividend increase is the direct result of Albany’s continued excellent cash generation, its strong balance sheet, and the Board’s confidence in the company’s prospects for continued growth,” said Bill Higgins, President and CEO.

About Albany International Corp.

Albany International is a leading developer and manufacturer of engineered components, using advanced materials processing and automation capabilities, with two core businesses. Machine Clothing is the world’s leading producer of fabrics and process belts used in the manufacture of all grades of paper products. Albany Engineered Composites is a growing designer and manufacturer of advanced materials-based engineered components for jet engine and airframe applications, supporting both commercial and military platforms. Albany International is headquartered in Rochester, New Hampshire, operates 23 plants in 11 countries, employs more than 4,100 people worldwide, and is listed on the New York Stock Exchange (Symbol AIN). Additional information about the Company and its products and services can be found at www.albint.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221209005342/en/

John Hobbs

603-330-5897

john.hobbs@albint.com

Source: Albany International Corp.

FAQ

What is the new dividend amount for Albany International Corp. (AIN)?

The new dividend amount is $0.25 per share.

When is the dividend payable for Albany International Corp. (AIN)?

The dividend is payable on January 9, 2023.

What was the previous dividend amount before the increase for AIN?

The previous dividend amount was $0.21 per share.

What date do I need to be a shareholder to receive the dividend for AIN?

Shareholders must be on record by December 27, 2022, to receive the dividend.

What does the dividend increase indicate about Albany International Corp.'s performance?

The dividend increase indicates strong cash generation and the Board's confidence in continued growth.