AZZ Inc. Announces Fiscal Year 2025 Third Quarter Cash Dividend of $0.17 per Share

Rhea-AI Summary

AZZ Inc. (NYSE: AZZ) has declared a quarterly cash dividend of $0.17 per share for the third quarter of fiscal year 2025. The dividend will be paid on February 20, 2025, to shareholders of record as of January 30, 2025.

As the leading independent provider of hot-dip galvanizing and coil coating solutions, AZZ maintains its commitment to regular quarterly cash dividends, though future payments will be subject to Board review and approval based on various factors including operating results, financial condition, and business outlook.

Positive

• Maintains consistent dividend payment of $0.17 per share
• Demonstrates financial stability through continued dividend program
• Shows commitment to shareholder returns

Negative

• None.

Insights

Financial Analyst

The announcement of a $0.17 per share quarterly dividend by AZZ represents a continuation of their existing dividend policy, maintaining an annualized dividend rate of $0.68 per share. With AZZ's current market cap of $2.59 billion, this translates to a dividend yield of approximately 1.05%. While the dividend remains stable, it's relatively modest compared to the industrial sector average. The company's commitment to maintaining regular quarterly dividends signals financial stability and consistent cash flow generation from their metal coating operations. The dividend coverage ratio appears sustainable given AZZ's business model in the essential infrastructure sector. Their focus on hot-dip galvanizing and coil coating provides recurring revenue streams, as these services are important for infrastructure maintenance and longevity. The ex-dividend date of January 30, 2025, gives investors a clear timeline for dividend qualification. The board's careful language about future dividends being subject to review reflects standard corporate governance practices rather than any concerning signals about future payments.

FORT WORTH, Texas, Jan. 16, 2025 /PRNewswire/ -- AZZ Inc. (NYSE: AZZ), the leading independent provider of hot-dip galvanizing and coil coating solutions, today announced its Board of Directors has authorized a third quarter cash dividend in the amount of $0.17 per share on the Company's outstanding shares of common stock. The dividend is payable on February 20, 2025, to shareholders of record as of the close of business on January 30, 2025.

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. AZZ remains committed to enhancing shareholder value based upon its consideration of various factors, including operating results, financial condition, and business outlook at the applicable time.

About AZZ Inc.

AZZ Inc. is the leading independent provider of hot-dip galvanizing and coil coating solutions to a broad range of end-markets. Collectively, our business segments provide sustainable, unmatched metal coating solutions that enhance the longevity and appearance of buildings, products and infrastructure that are essential to everyday life.

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," "could," "should," "expects," "plans," "will," "might," "would," "projects," "currently," "intends," "outlook," "forecasts," "targets," "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. Forward-looking statements speak only as of the date they are made and are subject to risks that could cause them to differ materially from actual results. 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 manufactured solutions, including demand by the construction markets, the industrial markets, and the metal coatings markets. We could also experience additional increases in labor costs, components and raw materials including zinc and natural gas, which are used in our hot-dip galvanizing process; supply-chain vendor delays; customer requested delays of our manufactured solutions; delays in additional acquisition opportunities; an increase in our debt leverage and/or interest rates on our debt, of which a significant portion is tied to variable interest rates; availability of experienced management and employees to implement AZZ's growth strategy; a downturn in market conditions in any industry relating to the manufactured solutions that we provide; economic volatility, including a prolonged economic downturn or macroeconomic conditions such as inflation or changes in the political stability in the United States or Canada; 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, including in Part I, Item 1A. Risk Factors, in AZZ's Annual Report on Form 10-K for the fiscal year ended February 29, 2024, and other filings with the 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 when 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:
Sandy Martin, Phillip Kupper
Three Part Advisors
(214) 616-2207
www.threepa.com

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SOURCE AZZ, Inc.

FAQ

When will AZZ pay its Q3 FY2025 dividend?

AZZ will pay its Q3 FY2025 dividend of $0.17 per share on February 20, 2025, to shareholders of record as of January 30, 2025.

What is AZZ's current quarterly dividend amount?

AZZ's current quarterly dividend is $0.17 per share.

What is the record date for AZZ's Q3 FY2025 dividend?

The record date for AZZ's Q3 FY2025 dividend is January 30, 2025.

Does AZZ plan to continue paying quarterly dividends?

Yes, AZZ currently intends to pay regular quarterly cash dividends for the foreseeable future, subject to Board review and approval based on various factors.

What factors does AZZ consider when declaring dividends?

AZZ considers operating results, financial condition, and business outlook when declaring dividends.