Terex Announces Dividend Increase of 15%

Rhea-AI Summary

Terex Corporation (NYSE: TEX) has declared a quarterly dividend of $0.15 per share, representing a 15% increase from previous dividends. This decision reflects the company's confidence in its financial health and growth prospects. The dividend will be paid on March 20, 2023, to shareholders on record by the close of business on March 9, 2023. The increase highlights Terex's commitment to returning value to its shareholders while maintaining a strong financial position.

Positive

• Dividend increased by 15%, indicating strong financial confidence.
• Quarterly dividend of $0.15 reflects the company's commitment to returning value to shareholders.

Negative

• None.

NORWALK, Conn., Feb. 9, 2023 /PRNewswire/ -- Terex Corporation (NYSE: TEX) announced that its Board of Directors declared a quarterly dividend of $0.15 per share. "We are pleased to provide a 15% increase to our shareholders. This increase reflects our continued confidence in the Company's strong financial position and future growth prospects," said Terex Chairman and Chief Executive Officer John L. Garrison, Jr.

The dividend is to be paid on March 20, 2023 to all stockholders of record as of the close of business on March 9, 2023.

Forward Looking Statements
Certain information in this press release includes forward-looking statements (within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 (the "Exchange Act") and the Private Securities Litigation Reform Act of 1995) regarding future events or our future financial performance that involve certain contingencies and uncertainties, including those discussed in our Annual Report on Form 10-K for the year ended December 31, 2022,  and subsequent reports we file with the U.S. Securities and Exchange Commission from time to time, in the sections entitled "Management's Discussion and Analysis of Financial Condition and Results of Operations – Contingencies and Uncertainties." In addition, when included in this press release or in documents referenced herein, the words "may," "expects," "should," "intends," "anticipates," "believes," "plans," "projects," "estimates," "will" and the negatives thereof and analogous or similar expressions are intended to identify forward-looking statements. However, the absence of these words does not mean that the statement is not forward-looking. We have based these forward-looking statements on current expectations and projections about future events. These statements are not guarantees of future performance.  Such statements are inherently subject to a variety of risks and uncertainties that could cause actual results to differ materially from those reflected in such forward-looking statements. 

Actual events or our actual future results may differ materially from any forward-looking statement due to these and other risks, uncertainties and material factors. The forward-looking statements contained herein speak only as of the date of this press release and the forward-looking statements contained in documents referenced herein speak only as of the date of the respective documents. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward looking statement contained in, or referenced in, this press release to reflect any change in our expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.

About Terex
Terex Corporation is a global manufacturer of materials processing machinery and aerial work platforms. We design, build and support products used in construction, maintenance, manufacturing, energy, recycling, minerals and materials management applications. Certain Terex products and solutions enable customers to reduce their impact on the environment including electric and hybrid offerings that deliver quiet and emission-free performance, products that support renewable energy, and products that aid in the recovery of useful materials from various types of waste. Our products are manufactured in North America, Europe, Australia and Asia and sold worldwide. We engage with customers through all stages of the product life cycle, from initial specification and financing to parts and service support.

Contact Information
Paretosh Misra
Head of Investor Relations
Phone: 203-604-3977
Email: paretosh.misra@terex.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/terex-announces-dividend-increase-of-15-301742317.html

SOURCE Terex Corporation

FAQ

What is the new dividend amount declared by Terex Corporation?

Terex Corporation has declared a new quarterly dividend of $0.15 per share.

When will the dividend be paid to shareholders of Terex?

The dividend will be paid on March 20, 2023.

What is the record date for the dividend payment from Terex Corporation?

The record date for the dividend payment is March 9, 2023.

How much was the increase in the dividend amount for Terex?

The dividend amount increased by 15% compared to previous payments.