AZZ Inc. Announces Fiscal Year 2021 Second Quarter Cash Dividend of $0.17 Per Share

Rhea-AI Summary

AZZ Inc. (NYSE: AZZ), a global provider of metal coating services, has announced a quarterly cash dividend of $0.17 per share. This dividend is set for payment on November 04, 2020, to shareholders recorded by October 21, 2020. The company expresses its commitment to maintain regular dividends based on its financial condition and operating results. AZZ operates within the power generation and industrial markets, providing metal coatings and welding solutions.

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• Potential uncertainty regarding future dividends as they are subject to Board review.

FORT WORTH, Texas, Oct. 8, 2020 /PRNewswire/ -- AZZ Inc. (NYSE: AZZ), a global provider of metal coating services, welding solutions, specialty electrical equipment and highly engineered services, today announced its Board of Directors has authorized a quarterly cash dividend in the amount of $0.17 per share on the company's outstanding shares of common stock. The dividend is payable on November 04, 2020, to shareholders of record as of the close of business on October 21, 2020.

While AZZ currently intends to pay regular quarterly cash dividends for the foreseeable future, any future dividends, in the amount of $0.17 per share of common stock or otherwise, will be reviewed on an individual basis and declared by the Board of Directors at its discretion. The company remains committed to enhancing shareholder value based upon its consideration of various factors, including AZZ's operating results, financial condition and business outlook at the applicable time.

About AZZ Inc.

AZZ Inc. is a global provider of metal coating solutions, welding solutions, specialty electrical equipment and highly engineered services to the power generation, transmission, distribution and industrial markets. AZZ Metal Coatings is a leading provider of metal finishing solutions for corrosion protection, including hot dip galvanizing to the North American steel fabrication industry. AZZ Energy is dedicated to delivering safe and reliable transmission of power from generation sources to end customers, and automated weld overlay solutions for corrosion and erosion mitigation to critical infrastructure in the energy markets worldwide.

Safe Harbor Statement

Certain statements herein about our expectations of future events or results constitute forward-looking statements for purposes of the safe harbor provisions of The Private Securities Litigation Reform Act of 1995. You can identify forward-looking statements by terminology such as "may," "should," "expects," "plans," "anticipates," "believes," "estimates," "predicts," "potential," "continue," or the negative of these terms or other comparable terminology. Such forward-looking statements are based on currently available competitive, financial and economic data and management's views and assumptions regarding future events. Such forward-looking statements are inherently uncertain, and investors must recognize that actual results may differ from those expressed or implied in the forward-looking statements. Certain factors could affect the outcome of the matters described herein. This press release may contain forward-looking statements that involve risks and uncertainties including, but not limited to, changes in customer demand for our products and services, including demand by the power generation markets, electrical transmission and distribution markets, the industrial markets, and the metal coatings markets.  In addition, within each of the markets we serve, our customers and our operations could potentially be adversely impacted by the ongoing COVID-19 pandemic.  We could also experience fluctuations in prices and raw material cost, including zinc and natural gas which are used in the hot dip galvanizing process; supply-chain vendor delays ; customer requested delays of our products or services; delays in additional acquisition opportunities; currency exchange rates; adequacy of financing; availability of experienced management and employees to implement AZZ's growth strategy; a downturn in market conditions in any industry relating to the products we inventory or sell or the services that we provide; economic volatility or changes in the political stability in the United States and other foreign markets in which we operate; acts of war or terrorism inside the United States or abroad; and other changes in economic and financial conditions.  AZZ has provided additional information regarding risks associated with the business in AZZ's Annual Report on Form 10-K for the fiscal year ended February 29, 2020 and other filings with the Securities and Exchange Commission ("SEC"), available for viewing on AZZ's website at www.azz.com and on the SEC's website at www.sec.gov.  You are urged to consider these factors carefully in evaluating the forward-looking statements herein and are cautioned not to place undue reliance on such forward-looking statements, which are qualified in their entirety by this cautionary statement. These statements are based on information as of the date hereof and AZZ assumes no obligation to update any forward-looking statements, whether as a result of new information, future events, or otherwise.

Company Contact:    
David Nark, Senior Vice President of Marketing, Communications and Investor Relations
AZZ Inc.
(817) 810-0095
www.azz.com

Investor Contact:
Joe Dorame, Managing Partner
Lytham Partners
(602) 889-9700
www.lythampartners.com

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SOURCE AZZ Inc.

FAQ

What is AZZ's quarterly cash dividend for November 2020?

AZZ Inc. has announced a quarterly cash dividend of $0.17 per share for November 2020.

When will AZZ pay its next dividend?

The next dividend payment by AZZ is scheduled for November 04, 2020.

What is the record date for AZZ's upcoming dividend?

The record date for AZZ's upcoming dividend is October 21, 2020.

How does AZZ determine its future dividend payments?

AZZ's future dividend payments will be reviewed by its Board of Directors and declared at their discretion.

What services does AZZ Inc. provide?

AZZ Inc. provides metal coating services, welding solutions, and specialty electrical equipment primarily for the power generation and industrial markets.