Alamo Group Inc. Declares And Increases Regular Quarterly Dividend

Rhea-AI Summary

Alamo Group declared a quarterly dividend of $0.14 per share, an increase from $0.13. This dividend will be payable on January 29, 2021, to shareholders recorded by January 19, 2021. The company continues to showcase its prowess in the design and manufacturing of maintenance equipment across multiple sectors, operating 27 plants globally with approximately 3,950 employees. Challenges noted include potential impacts from the COVID-19 pandemic and various market risks.

Positive

• Quarterly dividend increased from $0.13 to $0.14 per share.
• Company commitment to returning income to shareholders.

Negative

• Potential impacts from COVID-19 on supply chain and demand.
• Operational disruptions and facility closures could affect profitability.

SEGUIN, Texas, Jan. 4, 2021 /PRNewswire/ -- Alamo Group Inc. (NYSE: ALG) announced today that its Board of Directors has declared its quarterly dividend of $0.14 per share, approving an increase in the Company's quarterly dividend, from $0.13 per share to $0.14 per share.  Payment will be made on January 29, 2021 to shareholders of record at the close of business on January 19, 2021.

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 3,950 employees and operates 27 plants in North America, Europe, Australia and Brazil as of September 30, 2020.  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 dividend amount for Alamo Group is $0.14 per share.

When will Alamo Group's dividend be paid?

The dividend will be paid on January 29, 2021.

What is the record date for Alamo Group's dividend?

The record date for the dividend is January 19, 2021.

How frequently does Alamo Group pay dividends?

Alamo Group pays dividends quarterly.

Are there any risks associated with Alamo Group's dividend sustainability?

Yes, factors like COVID-19 and market demand fluctuations may impact dividend sustainability.