Apogee Enterprises Declares Quarterly Cash Dividend and Announces Increased Share Repurchase Authorization

Rhea-AI Summary

Apogee Enterprises has declared a quarterly cash dividend of $0.20 per share, payable on November 10, 2021. Shareholders of record as of October 26, 2021 will qualify for this dividend. Additionally, the Board has increased the share repurchase authorization by 1 million shares, now totaling approximately 1.5 million shares. The company will assess future buybacks based on cash flow, debt levels, and market conditions, indicating a commitment to manage capital effectively.

Positive

• Quarterly cash dividend of $0.20 per share enhances shareholder returns.
• Increase in share repurchase authorization signals confidence in financial health and commitment to enhancing shareholder value.

Negative

• None.

MINNEAPOLIS--(BUSINESS WIRE)-- Apogee Enterprises, Inc. (Nasdaq: APOG) announced today that its Board of Directors has declared a quarterly cash dividend of $0.20 per share. The dividend will be payable on November 10, 2021 to shareholders of record at the close of business on October 26, 2021.

Apogee’s Board also increased the company’s existing share repurchase authorization by 1 million shares, bringing the total available share repurchase program to approximately 1.5 million shares. The company will continue to evaluate future share repurchases, considering cash flow, debt levels, market conditions, and other capital allocation options.

About Apogee Enterprises, Inc.

Apogee Enterprises, Inc. (Nasdaq: APOG) delivers distinctive solutions for enclosing commercial buildings and framing art. Headquartered in Minneapolis, MN, we are a leader in architectural products and services, providing architectural glass, aluminum framing systems and installation services for buildings, as well as value-added glass and acrylic for custom picture framing and displays. For more information, visit www.apog.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211007005172/en/

Jeff Huebschen

Vice President, Investor Relations & Communications

952.487.7538

ir@apog.com

Source: Apogee Enterprises, Inc.

FAQ

What is the dividend amount declared by Apogee Enterprises?

Apogee Enterprises declared a quarterly cash dividend of $0.20 per share.

When is the dividend payment date for Apogee Enterprises?

The dividend will be payable on November 10, 2021.

How much has Apogee increased its share repurchase program?

Apogee has increased its share repurchase program by 1 million shares, totaling approximately 1.5 million shares.

What factors will Apogee consider for future share buybacks?

The company will evaluate future share repurchases based on cash flow, debt levels, and market conditions.

What is the record date for the dividend payment from Apogee Enterprises?

The record date for the dividend payment is October 26, 2021.