Allegion’s Board Increases Quarterly Dividend by 13%

Rhea-AI Summary

Allegion plc (NYSE: ALLE) announced a quarterly dividend of $0.36 per share, marking a 13% increase from 2020 and the seventh consecutive annual rise. This reflects Allegion's commitment to shareholder value and confidence in its cash flow generation. The dividend will be payable on March 31, 2021, to shareholders on record by March 17, 2021. Allegion, a leader in security products, reported $2.9 billion in revenue in 2019 and operates in nearly 130 countries, indicating its strong global presence.

Positive

• Quarterly dividend increased to $0.36 per share, a 13% rise from 2020
• Seventh consecutive annual increase in dividends
• Demonstrates confidence in cash flow generation and efficient capital allocation strategy

Negative

• None.

Allegion plc (NYSE: ALLE), a leading global provider of security products and solutions, today announced that its board of directors declared a quarterly dividend of $0.36 per ordinary share of the company – representing a 13-percent increase from 2020 and the company’s seventh consecutive year of annual increase in dividends.

“Allegion remains committed to driving shareholder value, and our board supports our plan to return cash to shareholders with an annual rate of dividend increase above our annual earnings growth rate,” said David D. Petratis, Allegion chairman, president and CEO. “This latest dividend increase conveys our confidence in the company’s efficient cash flow generation. It also demonstrates the continued execution of a flexible and balanced capital allocation strategy.”

The dividend is payable on March 31, 2021, to shareholders of record on March 17, 2021.

About Allegion

Allegion (NYSE: ALLE) is a global pioneer in seamless access, with leading brands like CISA^®, Interflex^®, LCN^®, Schlage^®, SimonsVoss^® and Von Duprin^®. Focusing on security around the door and adjacent areas, Allegion secures people and assets with a range of solutions for homes, businesses, schools and institutions. Allegion had $2.9 billion in revenue in 2019 and sells products in almost 130 countries.

For more, visit www.allegion.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210205005505/en/

FAQ

What is the new dividend amount for Allegion (NYSE: ALLE)?

Allegion has declared a quarterly dividend of $0.36 per share.

When is Allegion's dividend payment date?

The dividend is payable on March 31, 2021.

What was the percentage increase in Allegion's dividend compared to last year?

The dividend increased by 13% from 2020.

How many consecutive years has Allegion increased its dividend?

Allegion has increased its dividend for seven consecutive years.