Espey Declares Regular Quarterly Dividend of $0.25 Per Share; Appoints New Corporate Secretary

Rhea-AI Summary

Espey Mfg. & Electronics Corp. (NYSE AMERICAN: ESP) has announced a regular quarterly dividend of $0.25 per share, payable on December 27, 2024, to shareholders of record as of December 20, 2024.

The company also appointed Jennifer Pickering as Corporate Secretary, following her roles as Chief Human Resources Officer since April 2024 and Assistant Corporate Secretary since June 2024. She succeeds Peggy A. Murphy, who retired on December 6, 2024, after serving as Corporate Secretary since December 1998 and being with the company since October 1978.

Espey specializes in developing and manufacturing military and industrial power supplies/transformers.

Positive

• Maintains consistent quarterly dividend payment of $0.25 per share

Negative

• None.

Insights

Financial Analyst

The regular quarterly dividend of $0.25 per share represents a 1.22% dividend yield based on the current stock price. This consistent dividend payout signals financial stability and commitment to shareholder returns, particularly notable for a small-cap company in the specialized military and industrial power supplies sector. The dividend maintenance, rather than an increase or decrease, suggests steady but conservative cash flow management.

The timing between the record date (December 20) and payment date (December 27) follows standard market practices. While the management change at the Corporate Secretary level is administratively important, it's unlikely to have material impact on company operations or financial performance. The internal promotion from Assistant Corporate Secretary to Corporate Secretary indicates smooth succession planning.

SARATOGA SPRINGS, N.Y., Dec. 09, 2024 (GLOBE NEWSWIRE) -- The Board of Directors of Espey Mfg. & Electronics Corp. (NYSE AMERICAN: ESP) has declared a regular quarterly dividend of $0.25 per share. The dividend will be payable on December 27, 2024 to all shareholders of record on December 20, 2024.

Furthermore, the Board of Directors appointed Ms. Jennifer Pickering to the position of Corporate Secretary. Jennifer joined the Company as Chief Human Resources Officer in April 2024 and previously served as Assistant Corporate Secretary since June 2024. This appointment comes after the retirement of Ms. Peggy A. Murphy, effective December 6, 2024. Ms. Murphy was employed by the Company since October 1978 and held the position of Corporate Secretary since December 1998.

Espey's primary business is the development, design, and production of specialized military and industrial power supplies/transformers. The Company can be found on the Internet at www.espey.com.

For further information, contact Ms. Katrina Sparano at invest@espey.com.

Certain statements in this press release are "forward-looking statements" and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements represent the Company's current expectations or beliefs concerning future events. The matters covered by these statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those set forth in the forward-looking statements. The Company wishes to caution readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made.

FAQ

When will Espey (ESP) pay its latest quarterly dividend?

Espey will pay its quarterly dividend of $0.25 per share on December 27, 2024, to shareholders of record as of December 20, 2024.

Who is the new Corporate Secretary at Espey (ESP)?

Jennifer Pickering has been appointed as Corporate Secretary. She joined Espey as Chief Human Resources Officer in April 2024 and served as Assistant Corporate Secretary since June 2024.

What is Espey's (ESP) current quarterly dividend amount?

Espey's current quarterly dividend is $0.25 per share.