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

Rhea-AI Summary

Apogee Enterprises (Nasdaq: APOG) has declared a quarterly cash dividend of $0.22 per share, payable on July 27, 2022, to shareholders on record as of July 12, 2022. The company’s Board also increased its share repurchase authorization by 1 million shares, totaling approximately 1.25 million shares available for buyback. Apogee will assess future repurchase options based on cash flow, debt levels, and market conditions.

Positive

• Declaration of a quarterly cash dividend of $0.22 per share, enhancing shareholder returns.
• Increased share repurchase authorization by 1 million shares, signaling strong financial health and confidence in future performance.

Negative

• None.

MINNEAPOLIS--(BUSINESS WIRE)-- Apogee Enterprises, Inc. (Nasdaq: APOG) announced today that its Board of Directors has declared a quarterly cash dividend of $0.22 per share. The dividend will be payable on July 27, 2022, to shareholders of record at the close of business on July 12, 2022.

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 1.25 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) is a leading provider of architectural products and services for enclosing buildings, and glazing products for framing art. Headquartered in Minneapolis, MN, our portfolio of industry-leading products and services includes high-performance architectural glass, windows, curtainwall, storefront and entrance systems, integrated project management and installation services, 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/20220623005249/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 $0.22 per share.

When will the dividend be paid?

The dividend will be paid on July 27, 2022, to shareholders of record on July 12, 2022.

How much has Apogee increased its share repurchase authorization?

Apogee has increased its share repurchase authorization by 1 million shares, totaling approximately 1.25 million shares.

What factors will Apogee consider for future share repurchases?

Apogee will consider cash flow, debt levels, market conditions, and other capital allocation options for future share repurchases.