TriMas Declares Quarterly Dividend

Rhea-AI Summary

TriMas (NASDAQ: TRS) has announced a quarterly cash dividend of $0.04 per share, payable on March 9, 2023, to shareholders of record as of March 2, 2023. This decision reflects the company's commitment to returning value to its investors. TriMas operates in the consumer products, aerospace, and industrial markets, with around 3,500 employees across 13 countries. The company emphasizes strong brand presence and innovative product solutions as it continues to navigate various market challenges.

Positive

• Quarterly cash dividend of $0.04 per share enhances shareholder value.
• Demonstrates company confidence in financial health.

Negative

• Potential risks from supply chain constraints and inflation may affect future performance.
• Ongoing economic uncertainties could impact dividend sustainability.

BLOOMFIELD HILLS, Mich.--(BUSINESS WIRE)-- TriMas (NASDAQ: TRS) today declared a quarterly cash dividend of $0.04 per share of TriMas Corporation stock. The quarterly dividend is payable on March 9, 2023, to shareholders of record as of the close of business on March 2, 2023.

About TriMas

TriMas manufactures a diverse set of products primarily for the consumer products, aerospace and industrial markets through its TriMas Packaging, TriMas Aerospace and Specialty Products groups. Our approximately 3,500 dedicated employees in 13 countries provide customers with a wide range of innovative and quality product solutions through our market-leading businesses. Our TriMas family of businesses has strong brand names in the markets served, and operates under a common set of values and strategic priorities under the TriMas Business Model. TriMas is publicly traded on the NASDAQ under the ticker symbol “TRS,” and is headquartered in Bloomfield Hills, Michigan. For more information, please visit www.trimascorp.com.

Notice Regarding Forward-Looking Statements

Any "forward-looking" statements, within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, contained herein, including those relating to TriMas’ business, financial condition or future results, involve risks and uncertainties with respect to, including, but not limited to: the severity and duration of the ongoing coronavirus (“COVID-19”) pandemic on our operations, customers and suppliers, as well as related actions taken by governmental authorities and other third parties in response, each of which is uncertain, rapidly changing and difficult to predict; general economic and currency conditions; inflationary pressures on our supply chain, including raw material and energy costs, and customers; interest rate volatility; risks and uncertainties associated with intangible assets, including goodwill or other intangible asset impairment charges; competitive factors; future trends; our ability to realize our business strategies; our ability to identify attractive acquisition candidates, successfully integrate acquired operations or realize the intended benefits of such acquisitions; information technology and other cyber-related risks; the performance of our subcontractors and suppliers; supply constraints, including the availability and cost of raw materials; market demand; intellectual property factors; litigation; government and regulatory actions, including, without limitation, climate change legislation and other environmental regulations, as well as the impact of tariffs, quotas and surcharges; our leverage; liabilities imposed by our debt instruments; labor disputes and shortages; changes to fiscal and tax policies; contingent liabilities relating to acquisition activities; the disruption of operations from catastrophic or extraordinary events, including natural disasters and public health crises; the amount and timing of future dividends and/or share repurchases, which remain subject to Board approval and depend on market and other conditions; our future prospects; and other risks that are detailed in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2021. The risks described are not the only risks facing our Company. Additional risks and uncertainties not currently known to us or that we currently deemed to be immaterial also may materially adversely affect our business, financial position and results of operations or cash flows. These risks and uncertainties may cause actual results to differ materially from those indicated by the forward-looking statements. All forward-looking statements made herein are based on information currently available, and the Company assumes no obligation to update any forward-looking statements, except as required by law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230216005188/en/

Sherry Lauderback

VP, Investor Relations & Communications

(248) 631-5506

sherrylauderback@trimascorp.com

Source: TriMas

FAQ

What is the dividend amount for TriMas (TRS) in 2023?

TriMas declared a quarterly cash dividend of $0.04 per share.

When will TriMas (TRS) pay its next dividend?

The next dividend payment is scheduled for March 9, 2023.

What is the record date for TriMas (TRS) dividend?

The record date for the upcoming dividend is March 2, 2023.

How often does TriMas (TRS) pay dividends?

TriMas typically pays dividends quarterly.

What factors could affect the dividend sustainability of TriMas (TRS)?

Market demand, supply chain constraints, and economic conditions could influence dividend sustainability.