Hurco Companies, Inc. Announces Quarterly Cash Dividend

Rhea-AI Summary

Hurco Companies, Inc. (HURC) announced a cash dividend of $0.14 per share, set to be paid on January 17, 2022, to shareholders on record by January 3, 2022. The dividend decision underscores the company's commitment to returning value to shareholders while highlighting future dividends subject to board approval and business conditions. Hurco specializes in manufacturing CNC machine tools, selling through global operations in diverse markets including aerospace and medical equipment.

Positive

• Approval of a cash dividend of $0.14 per share.
• Demonstrates company confidence in returning value to shareholders.

Negative

• Future dividends are subject to board approval and market conditions.

INDIANAPOLIS, Nov. 12, 2021 (GLOBE NEWSWIRE) -- Hurco Companies, Inc. (Nasdaq Global Select Market: HURC), an international industrial technology company, announced today that its Board of Directors approved the payment of a cash dividend of $0.14 per share on its issued and outstanding common stock. The dividend will be paid on January 17, 2022, to shareholders of record as of the close of business on January 3, 2022.

Future declarations of dividends are subject to approval of the Board of Directors and may be adjusted as business needs or market conditions change.

Hurco Companies, Inc. is an international, industrial technology company that sells its three brands of computer numeric control (“CNC”) machine tools to the worldwide metal cutting and metal forming industry. Two of the Company’s brands of machine tools, Hurco and Milltronics, are equipped with interactive controls that include software that is proprietary to each respective brand. The Company designs these controls and develops the software. The third brand of CNC machine tools, Takumi, is equipped with industrial controls that are produced by third parties, which allows the customer to decide the type of control added to the Takumi CNC machine tool. The Company also produces high-value machine tool components and accessories and provides automation solutions that can be integrated with any machine tool. The end markets for the Company's products are independent job shops, short-run manufacturing operations within large corporations, and manufacturers with production-oriented operations. The Company’s customers manufacture precision parts, tools, dyes, and/or molds for industries such as aerospace, defense, medical equipment, energy, transportation, and computer equipment. The Company is based in Indianapolis, Indiana, with manufacturing operations in Taiwan, Italy, the U.S., and China, and sells its products through direct and indirect sales forces throughout the Americas, Europe, and Asia. The Company has sales, application engineering support and service subsidiaries in China, England, France, Germany, India, Italy, the Netherlands, Poland, Singapore, the U.S., and Taiwan. Web Site: www.hurco.com

Certain statements in this news release are forward-looking statements that involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance, or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. These factors include, among others, the impact of the COVID-19 pandemic and other public health epidemics on the global economy, our business and operations, our employees and the business, operations and economies of our customers and suppliers; the cyclical nature of the machine tool industry; uncertain economic conditions, which may adversely affect overall demand, in the Americas, Europe and Asia Pacific markets; the risks of our international operations; governmental actions, initiatives and regulations, including import and export restrictions, duties and tariffs and changes to tax laws; the effects of changes in currency exchange rates; competition with larger companies that have greater financial resources; the United Kingdom’s withdrawal from the European Union (Brexit); our dependence on new product development; the need and/or ability to protect our intellectual property assets; the limited number of our manufacturing and supply chain sources; increases in the prices of raw materials, especially steel and iron products; the effect of the loss of members of senior management and key personnel; our ability to integrate acquisitions; acquisitions that could disrupt our operations and affect operating results; failure to comply with data privacy and security regulations; breaches of our network and system security measures; possible obsolescence of our technology and the need to make technological advances; impairment of our assets; negative or unforeseen tax consequences; uncertainty concerning our ability to use tax loss carryforwards; and changes in the LIBOR rate.

Contact:	Sonja K. McClelland
	Executive Vice President, Treasurer, & Chief Financial Officer
	317-293-5309

FAQ

What is the dividend amount for Hurco Companies, Inc. in 2022?

Hurco Companies, Inc. declared a dividend of $0.14 per share.

When will the dividend for Hurco Companies, Inc. be paid?

The dividend will be paid on January 17, 2022.

What is the record date for Hurco's dividend?

The record date for the dividend is January 3, 2022.

Is Hurco Companies, Inc. planning to continue paying dividends?

Future dividend declarations are subject to Board approval and market conditions.