AMETEK Increases Quarterly Dividend

Rhea-AI Summary

AMETEK, Inc. (NYSE: AME) has announced a 14% increase in its quarterly cash dividend, raising it to $0.25 per share from $0.22. This will be payable on March 31, 2023, to shareholders of record as of March 10, 2023, resulting in an indicated annual rate of $1.00 per share. The company reported robust operating performance and strong cash flow generation, primarily using free cash flow to support acquisitions and enhance shareholder value. With annual sales exceeding $6.0 billion, AMETEK remains committed to double-digit growth in earnings per share.

Positive

• 14% increase in quarterly dividend to $0.25 per share.
• Annual dividend rate rises to $1.00 per share.
• Strong cash flow supports acquisition strategy and shareholder returns.
• Reported annual sales over $6.0 billion.

Negative

• None.

BERWYN, Pa., Feb. 9, 2023 /PRNewswire/ -- AMETEK, Inc. (NYSE: AME) today announced its Board of Directors has approved a 14% increase in its quarterly cash dividend on common stock to $0.25 per share from $0.22 per share. The dividend is payable on March 31, 2023 to shareholders of record as of March 10, 2023. This dividend increase will raise the indicated annual rate to $1.00 per share.

"AMETEK's businesses continue to operate at a very high level, delivering exceptional operating performance and outstanding cash flow generation," said David A. Zapico, AMETEK Chairman and Chief Executive Officer. "Our primary use of free cash flow remains supporting our acquisition strategy, driving long-term shareholder value. Our strong cash flow also allows us to reward our shareholders with a consistently increasing cash dividend."

Corporate Profile
AMETEK (NYSE: AME) is a leading global provider of industrial technology solutions serving a diverse set of attractive niche markets with annual sales over $6.0 billion. The AMETEK Growth Model integrates the Four Growth Strategies - Operational Excellence, New Product Development, Global and Market Expansion, and Strategic Acquisitions - with a disciplined focus on cash generation and capital deployment. AMETEK's objective is double-digit percentage growth in earnings per share over the business cycle and a superior return on total capital. Founded in 1930, AMETEK has been listed on the NYSE for over 90 years and is a component of the S&P 500. For more information, visit www.ametek.com.

Contact:
Kevin Coleman
Vice President, Investor Relations & Treasurer
kevin.coleman@ametek.com
Phone: 610-889-5247

View original content:https://www.prnewswire.com/news-releases/ametek-increases-quarterly-dividend-301742460.html

SOURCE AMETEK, Inc.

FAQ

What is AMETEK's dividend increase percentage announced in February 2023?

AMETEK announced a 14% increase in its quarterly dividend.

When is the dividend payment date for AMETEK's announced increase?

The dividend is payable on March 31, 2023.

What will be the new quarterly dividend amount for AMETEK after the increase?

The new quarterly dividend amount will be $0.25 per share.

What is AMETEK's indicated annual dividend rate following the increase?

The indicated annual dividend rate will be $1.00 per share.

When is the record date for AMETEK's dividend payment?

The record date for the dividend payment is March 10, 2023.