Quanta Services Announces Quarterly Cash Dividend

Rhea-AI Summary

Quanta Services, Inc. (NYSE: PWR) has declared a quarterly cash dividend of $0.08 per share, translating to $0.32 annually. The dividend payment will occur on April 18, 2023, to shareholders recorded by April 10, 2023. This declaration reflects the company's ongoing commitment to returning value to its stockholders.

Positive

• Quarterly cash dividend of $0.08 per share demonstrates commitment to stockholder value.
• Annualized dividend rate of $0.32 indicates a stable income source for investors.

Negative

• None.

HOUSTON, March 30, 2023 /PRNewswire/ -- Quanta Services, Inc. (NYSE: PWR) announced today that its Board of Directors has declared a quarterly cash dividend to stockholders of $0.08 per share, or a rate of $0.32 per share on an annualized basis. The dividend is payable on April 18, 2023, to stockholders of record as of April 10, 2023.

About Quanta Services
Quanta Services is a leading specialized contracting services company, delivering comprehensive infrastructure solutions for the utility, renewable energy, communications, pipeline and energy industries. Quanta's comprehensive services include designing, installing, repairing and maintaining energy and communications infrastructure. With operations throughout the United States, Canada, Australia and select other international markets, Quanta has the manpower, resources and expertise to safely complete projects that are local, regional, national or international in scope. For more information, visit www.quantaservices.com.

Cautionary Statement About Forward-Looking Statements
This press release (and any oral statements regarding the subject matter of this press release) contains forward-looking statements intended to qualify for the "safe harbor" from liability established by the Private Securities Litigation Reform Act of 1995.  Forward-looking statements include, but are not limited to, statements relating to expectations regarding the declaration, amount or timing of any future dividends; expectations regarding Quanta's business or financial outlook; and Quanta's ability to deliver increased value or return capital to stockholders; as well as statements reflecting expectations, intentions, assumptions or beliefs about future events and other statements that do not relate strictly to historical or current facts. These forward-looking statements are not guarantees of future performance, involve or rely on a number of risks, uncertainties, and assumptions that are difficult to predict or are beyond our control, and reflect management's beliefs and assumptions based on information available at the time the statements are made. We caution you that actual outcomes and results may differ materially from what is expressed, implied or forecasted by our forward-looking statements and that any or all of our forward-looking statements may turn out to be inaccurate or incorrect. Forward-looking statements can be affected by inaccurate assumptions and by known or unknown risks and uncertainties, including, among others, market, industry, economic, financial or political conditions outside of the control of Quanta, quarterly variations in operating results, liquidity, financial condition, cash flows, capital requirements, reinvestment opportunities or other financial results; requirements relating to dividends under Delaware law and the credit agreement for Quanta's senior credit facility; and other risks and uncertainties detailed in Quanta's Annual Report on Form 10-K for the year ended Dec. 31, 2022 and any other documents that Quanta files with the Securities and Exchange Commission (SEC). For a discussion of these risks, uncertainties and assumptions, investors are urged to refer to Quanta's documents filed with the SEC that are available through the company's website at www.quantaservices.com or through the SEC's Electronic Data Gathering and Analysis Retrieval System (EDGAR) at www.sec.gov. Should one or more of these risks materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those expressed or implied in any forward-looking statements. Investors are cautioned not to place undue reliance on these forward-looking statements, which are current only as of this date. Quanta does not undertake and expressly disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Quanta further expressly disclaims any written or oral statements made by any third party regarding the subject matter of this press release.

Investors - Kip Rupp, CFA, IRC  
Quanta Services, Inc. 
(713) 341-7260

 

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SOURCE Quanta Services, Inc.

FAQ

What is the dividend amount declared by Quanta Services (PWR) in March 2023?

Quanta Services declared a quarterly cash dividend of $0.08 per share.

When will the dividend payment be made to shareholders of Quanta Services (PWR)?

The dividend payment will be made on April 18, 2023.

What is the record date for Quanta Services' (PWR) dividend payment?

The record date for the dividend payment is April 10, 2023.

What is the annualized dividend rate for Quanta Services (PWR)?

The annualized dividend rate for Quanta Services is $0.32 per share.