Alamo Group Inc. Declares Regular Quarterly Dividend

Rhea-AI Summary

Alamo Group Inc. (NYSE: ALG) declared a quarterly cash dividend of $0.13 per share, set to be paid on July 29, 2020, to shareholders on record as of July 16, 2020. The company, a leader in infrastructure maintenance and agricultural equipment, operates 30 plants globally and employs around 4,230 staff. While the dividend reflects ongoing shareholder value, the press release notes potential risks, including disruptions from the COVID-19 pandemic, which could impact future sales and profitability.

Positive

• Quarterly cash dividend of $0.13 per share declared.
• Dividend payment reflects commitment to shareholder returns.
• Strong operational footprint with 30 plants globally.

Negative

• COVID-19 pandemic may lead to supply chain disruptions.
• Potential reductions in customer demand.
• Risks of sales and profitability declines.

SEGUIN, Texas, July 2, 2020 /PRNewswire/ -- Alamo Group Inc. (NYSE: ALG) announced today that its Board of Directors has declared its quarterly cash dividend of $0.13 per share, payable July 29, 2020, to shareholders of record at the close of business on July 16, 2020 

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 4,230 employees and operates 30 plants in North America, Europe, Australia and Brazil as of March 31, 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 dividend amount declared by Alamo Group?

Alamo Group declared a quarterly cash dividend of $0.13 per share.

When will the dividend be paid to shareholders?

The dividend will be paid on July 29, 2020.

Who is eligible to receive the dividend?

Shareholders on record as of July 16, 2020, are eligible.

What risks might affect Alamo Group's future performance?

Risks include potential supply chain disruptions and reduced customer demand due to the COVID-19 pandemic.