Alamo Group Inc. Declares and Increases Regular Quarterly Dividend

Rhea-AI Summary

Alamo Group Inc. (NYSE: ALG) has declared a quarterly dividend increase from $0.14 to $0.18 per share. This increase reflects the company’s commitment to returning value to shareholders. The payment date is set for February 1, 2022, for shareholders on record as of January 18, 2022. With a workforce of approximately 4,100 employees and operations across North America, Europe, Australia, and Brazil, Alamo continues to lead in manufacturing high-quality infrastructure maintenance and agricultural equipment.

Positive

• Quarterly dividend increased from $0.14 to $0.18 per share
• Commitment to returning value to shareholders through dividend

Negative

• Risks related to market demand fluctuations due to COVID-19
• Potential impacts from supply chain disruptions and operational challenges

SEGUIN, Texas, Jan. 3, 2022 /PRNewswire/ -- Alamo Group Inc. (NYSE: ALG) announced today that its Board of Directors has declared its quarterly dividend of $0.18 per share, approving an increase in the Company's quarterly dividend, from $0.14 per share to $0.18 per share.  Payment will be made on February 1, 2022 to shareholders of record at the close of business on January 18, 2022.

About Alamo Group

Alamo Group is a leader in the design, manufacture, distribution and service of high quality equipment for infrastructure maintenance, agriculture and other applications.  Our products include truck and tractor mounted mowing and other vegetation maintenance equipment, street sweepers, snow removal equipment, excavators, vacuum trucks, other industrial equipment, agricultural implements, forestry equipment and related after-market parts and services.  The Company, founded in 1969, has approximately 4,100 employees and operates 27 plants in North America, Europe, Australia and Brazil as of September 30, 2021.  The corporate offices of Alamo Group Inc. are located in Seguin, Texas.

Forward Looking Statements

This release contains forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.  Forward-looking statements involve known and unknown risks and uncertainties, which may cause the Company's actual results in future periods to differ materially from forecasted results. Among those factors which could cause actual results to differ materially are the following: overall market demand, continuing impacts from the COVID-19 pandemic including more significant supply chain disruptions, further reductions in customer demand, sales and profitability declines, operational disruptions, full or partial facility closures, and other similar impacts, competition, weather, seasonality, currency-related issues, and other risk factors listed from time to time in the Company's SEC reports.  The Company does not undertake any obligation to update the information contained herein, which speaks only as of this date.

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SOURCE Alamo Group Inc.

FAQ

What is the new dividend amount for Alamo Group (ALG)?

The new quarterly dividend amount for Alamo Group is $0.18 per share.

When will the dividend be paid to shareholders of Alamo Group (ALG)?

The dividend will be paid on February 1, 2022.

What is the record date for receiving the dividend from Alamo Group (ALG)?

The record date for the dividend is January 18, 2022.

How often does Alamo Group (ALG) pay dividends?

Alamo Group typically pays dividends quarterly.

What are the risks affecting Alamo Group's (ALG) future performance?

The risks include market demand fluctuations, supply chain disruptions, and operational challenges.