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Apogee Enterprises Increases Quarterly Dividend by Nine Percent
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Neutral)
Tags
dividends
Rhea-AI Summary
Apogee Enterprises, Inc. (Nasdaq: APOG) declared a quarterly cash dividend of $0.24 per share, marking a 9% increase from $0.22. This dividend is payable on February 15, 2023, to shareholders of record on January 31, 2023. This milestone represents Apogee’s tenth consecutive year of dividend increases, with total growth of 167% since the dividend was $0.09 per share. CEO Ty R. Silberhorn attributed this increase to strong operational performance and cash flow generation.
Positive
Quarterly dividend increased by 9% to $0.24 per share.
Tenth consecutive year of dividend increases.
Total dividend growth of 167% from $0.09 to $0.24 per share.
Strong operational performance and cash flow generation.
Negative
None.
Apogee’s Tenth Consecutive Year with a Dividend Increase
MINNEAPOLIS--(BUSINESS WIRE)--
Apogee Enterprises, Inc. (Nasdaq: APOG) announced today that its Board of Directors has declared a quarterly cash dividend of $0.24 per share, a nine percent increase from its previous quarterly dividend rate of $0.22 per share. The dividend will be payable on February 15, 2023, to shareholders of record at the close of business on January 31, 2023. This marks Apogee’s tenth consecutive year with a dividend increase, during which time the quarterly dividend has grown by 167 percent, from $0.09 per share to $0.24 per share.
“This dividend increase reflects our improved operational performance, strong financial position, and ability to generate consistent cash flow,” said Ty R. Silberhorn, Chief Executive Officer. “As we continue to execute our strategy, we’re committed to delivering value through investing in profitable growth and returning capital to our shareholders.”
About Apogee Enterprises, Inc.
Apogee Enterprises, Inc. (Nasdaq: APOG) is a leading provider of architectural products and services for enclosing buildings, and glass and acrylic products used for preservation, energy conservation, and enhanced viewing. 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.
Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. The words “believe,” “expect,” “anticipate,” “intend,” “estimate,” “forecast,” “project,” “should” and similar expressions are intended to identify “forward-looking statements”. These statements reflect Apogee management’s expectations or beliefs as of the date of this release. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. These forward-looking statements are subject to significant risks that could cause actual results to differ materially from the expectations reflected in the forward-looking statements. More information concerning potential factors that could affect future financial results is included in the company’s Annual Report on Form 10-K for the fiscal year ended February 26, 2022 and in subsequent filings with the U.S. Securities and Exchange Commission.
