AZZ Inc. Announces Fiscal Year 2022 First Quarter Cash Dividend of $0.17 per Share
AZZ Inc. (NYSE: AZZ) has declared a first quarter cash dividend of $0.17 per share, payable on August 3, 2021, to shareholders of record by July 20, 2021. The Board of Directors will assess future dividends on an individual basis, considering AZZ's financial performance and market conditions. The company, which specializes in metal coating services, welding solutions, and specialty electrical equipment, aims to enhance shareholder value through prudent financial management.
- First quarter cash dividend of $0.17 per share authorized.
- Future dividends subject to Board discretion based on financial performance.
FORT WORTH, Texas, July 1, 2021 /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 first quarter cash dividend in the amount of
While AZZ currently intends to pay regular quarterly cash dividends for the foreseeable future, any future dividends 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 galvanizing and a variety of metal coating solutions, welding solutions, specialty electrical equipment and highly engineered services to a broad range of markets, including but not limited to the power generation, transmission, distribution, refining and industrial markets. The Company's Metal Coatings segment is a leading provider of metal finishing solutions for corrosion protection, including hot dip galvanizing, spin galvanizing, powder coating, anodizing and plating, to the North American steel fabrication industry. The Company's Infrastructure Solutions segment 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 and waste management 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 metal coatings markets,, power generation markets, electrical transmission and distribution markets, and industrial 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 28, 2021 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
View original content to download multimedia:https://www.prnewswire.com/news-releases/azz-inc-announces-fiscal-year-2022-first-quarter-cash-dividend-of-0-17-per-share-301324639.html
SOURCE AZZ Inc.
FAQ
What is the cash dividend declared by AZZ for the first quarter of fiscal year 2022?
When will AZZ's first quarter cash dividend be paid?
What is the record date for AZZ's first quarter cash dividend?
How does AZZ plan to manage future dividends?
