H&E Equipment Services Reports Quarterly Cash Dividend

Rhea-AI Summary

H&E Equipment Services (NASDAQ: HEES) has declared a quarterly cash dividend of $0.275 per share for its stockholders. The payment is scheduled for March 12, 2021, with a record date of February 26, 2021. As one of the largest integrated equipment services companies in the U.S., H&E provides rental, sales, and service support for heavy construction and industrial equipment through its extensive network of 97 facilities. This dividend reflects confidence in the company’s continued performance amidst potential market uncertainties.

Positive

• Declared a quarterly cash dividend of $0.275 per share.
• Payment scheduled for March 12, 2021.
• Strong operational presence with 97 full-service facilities.

Negative

• Potential risks from COVID-19 pandemic impacting construction projects.
• Economic downturn and uncertainty could affect service demand.
• Increased costs for maintenance and repairs as fleet ages.

H&E Equipment Services, Inc. (NASDAQ: HEES) today announced that its Board of Directors declared a regular quarterly cash dividend to be paid to its stockholders. The Company announced a quarterly cash dividend of $0.275 per share of common stock to be paid on March 12, 2021 for stockholders of record as of the close of business on February 26, 2021.

About H&E Equipment Services, Inc.

The Company is one of the largest integrated equipment services companies in the United States with 97 full-service facilities throughout the West Coast, Intermountain, Southwest, Gulf Coast, Mid-Atlantic and Southeast regions. The Company is focused on heavy construction and industrial equipment and rents, sells and provides parts and services support for four core categories of specialized equipment: (1) hi-lift or aerial platform equipment; (2) cranes; (3) earthmoving equipment; and (4) material handling equipment. By providing equipment rental, sales, on-site parts, repair and maintenance functions under one roof, the Company is a one-stop provider for its customers’ varied equipment needs. This full service approach provides the Company with multiple points of customer contact, enabling it to maintain a high quality rental fleet, as well as an effective distribution channel for fleet disposal and provides cross-selling opportunities among its new and used equipment sales, rental, parts sales and services operations.

Forward-Looking Statements

Statements contained in this press release that are not historical facts, including statements about H&E’s beliefs and expectations, are “forward-looking statements” within the meaning of the federal securities laws. Statements containing the words “may”, “could”, “would”, “should”, “believe”, “expect”, “anticipate”, “plan”, “estimate”, “target”, “project”, “intend”, “foresee” and similar expressions constitute forward-looking statements. Forward-looking statements involve known and unknown risks and uncertainties, which could cause actual results to differ materially from those contained in any forward-looking statement. Such factors include, but are not limited to, the following: (1) risks related to the impact of the COVID-19 global pandemic, such as the scope and duration of the outbreak, government actions and restrictive measures implemented in response, material delays and cancellations of construction or infrastructure projects, supply chain disruptions and other impacts to the business; (2) general economic conditions and construction and industrial activity in the markets where we operate in North America; (3) our ability to forecast trends in our business accurately, and the impact of economic downturns and economic uncertainty in the markets we serve (including as a result of current uncertainty due to COVID-19); (4) trends in oil and natural gas could adversely affect the demand for our services and products; (5) the impact of conditions in the global credit and commodity markets (including as a result of current volatility and uncertainty in credit and commodity markets due to COVID-19) and their effect on construction spending and the economy in general; (6) relationships with equipment suppliers; (7) increased maintenance and repair costs as we age our fleet and decreases in our equipment’s residual value; (8) our indebtedness; (9) risks associated with the expansion of our business and any potential acquisitions we may make, including any related capital expenditures, or our inability to consummate such acquisitions; (10) our possible inability to integrate any businesses we acquire; (11) competitive pressures; (12) security breaches and other disruptions in our information technology systems; (13) adverse weather events or natural disasters; (14) compliance with laws and regulations, including those relating to environmental matters, corporate governance matters and tax matters, as well as any future changes to such laws and regulations; and (15) other factors discussed in our public filings, including the risk factors included in the Company’s most recent Annual Report on Form 10-K and the Company’s most recent Quarterly Report on Form 10-Q. Except as required by applicable law, including the securities laws of the United States and the rules and regulations of the Securities and Exchange Commission, we are under no obligation to publicly update or revise any forward-looking statements after the date of this release. These statements are based on the current beliefs and assumptions of H&E’s management, which in turn are based on currently available information and important, underlying assumptions. H&E is under no obligation to publicly update or revise any forward-looking statements after this press release, whether as a result of any new information, future events or otherwise. Investors, potential investors, security holders and other readers are urged to consider the above mentioned factors carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements.

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FAQ

What is the dividend amount for H&E Equipment Services (HEES)?

H&E Equipment Services has declared a quarterly cash dividend of $0.275 per share.

When will the H&E Equipment Services (HEES) dividend be paid?

The dividend is scheduled to be paid on March 12, 2021.

What is the record date for the HEES dividend?

The record date for the dividend is February 26, 2021.

How many facilities does H&E Equipment Services operate?

H&E Equipment Services operates 97 full-service facilities across the U.S.

What potential risks could affect H&E Equipment Services (HEES)?

Risks include impacts from the COVID-19 pandemic, economic downturns, and increased maintenance costs.