HAMILTON BEACH BRANDS HOLDING COMPANY ANNOUNCES QUARTERLY DIVIDEND INCREASE

Rhea-AI Summary

The Board of Directors of Hamilton Beach Brands Holding Company (NYSE: HBB) has approved a 4.5% increase in the Company's regular quarterly cash dividend, raising the quarterly amount from $0.11 per share to $0.115 per share. The dividend is payable on both the Class A and Class B Common Stock and will be paid on June 14, 2024, to stockholders of record at the close of business on May 31, 2024. Hamilton Beach Brands Holding Company operates as a leading designer, marketer, and distributor of various household and commercial appliances under different brands. The Company also recently expanded its presence in the home health market through the acquisition of HealthBeacon, a medical technology firm.

Positive

• The Board of Directors approved a 4.5% increase in the Company's quarterly cash dividend, demonstrating confidence in the Company's financial stability and future prospects.
• The expansion into the home health market through the acquisition of HealthBeacon showcases Hamilton Beach Brands Holding Company's commitment to diversification and growth.

Negative

• None.

GLEN ALLEN, Va., May 10, 2024 /PRNewswire/ -- The Board of Directors of Hamilton Beach Brands Holding Company (NYSE: HBB) has approved a 4.5% increase in the Company's regular quarterly cash dividend, raising the quarterly amount from $0.11 per share to $0.115 per share.

The dividend is payable on both the Class A and Class B Common Stock and will be paid June 14, 2024, to stockholders of record at the close of business on May 31, 2024.

About Hamilton Beach Brands Holding Company
Hamilton Beach Brands Holding Company operates through its wholly owned subsidiary Hamilton Beach Brands, Inc., a leading designer, marketer, and distributor of a wide range of branded small electric household and specialty housewares appliances, as well as commercial products for restaurants, fast food chains, bars, and hotels. The Company's owned consumer brands include Hamilton Beach^®, Proctor Silex^®, Hamilton Beach Professional^®, Weston^®, and TrueAir^®. The Company's owned commercial brands include Hamilton Beach Commercial^® and Proctor Silex Commercial^®. The Company licenses the brands for Wolf Gourmet^® countertop appliances, CHI^® premium garment care products, Clorox™ True HEPA air purifiers, and Brita Hub™ countertop electric water filtration appliances. The Company has exclusive multiyear agreements to design, sell, market, and distribute Bartesian^® cocktail makers and Numilk^® plant-based milk makers. The Company's Hamilton Beach Health subsidiary is focused on expanding the Company's participation in the home health market. In February 2024, Hamilton Beach Health acquired HealthBeacon, a medical technology firm and strategic partner of the Company since 2021. HealthBeacon develops connected devices that enable patients to manage at home chronic conditions that require the use of injectable medications, and it provides other health services. For more information about Hamilton Beach Brands Holding Company, visit hamiltonbeachbrands.com.

View original content to download multimedia:https://www.prnewswire.com/news-releases/hamilton-beach-brands-holding-company-announces-quarterly-dividend-increase-302142700.html

SOURCE Hamilton Beach Brands Holding Company

FAQ

What is the new quarterly cash dividend amount approved by the Board of Directors for Hamilton Beach Brands Holding Company (HBB)?

The new quarterly cash dividend amount approved by the Board of Directors for Hamilton Beach Brands Holding Company (HBB) is $0.115 per share, reflecting a 4.5% increase from the previous amount of $0.11 per share.

When will the new dividend be paid to stockholders of Hamilton Beach Brands Holding Company (HBB)?

The new dividend will be paid on June 14, 2024, to stockholders of record at the close of business on May 31, 2024.