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Valmont Industries, Inc. (NYSE: VMI) announced a 10% increase in its quarterly cash dividend from $0.50 to $0.55 per share. This brings the annualized rate to $2.20. The dividend will be payable on April 15, 2022 to shareholders of record as of March 25, 2022. CEO Stephen G. Kaniewski highlighted the company’s strong growth and commitment to a balanced capital allocation strategy, emphasizing ongoing investments to support long-term growth.
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10% increase in quarterly cash dividend to $0.55 per share.
Demonstrates strong cash flow generation and capital allocation strategy.
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None.
OMAHA, Neb.--(BUSINESS WIRE)--
Valmont Industries, Inc. (NYSE: VMI), a leading global provider of engineered products and services for infrastructure development and irrigation equipment and services for agriculture, today announced that its Board of Directors approved an increase to its quarterly cash dividend to $0.55 per share, or a rate of $2.20 per share on an annualized basis. This represents an increase of 10% from the prior quarterly cash dividend of $0.50 per share. The dividend will be payable on April 15, 2022 to shareholders of record on March 25, 2022. The Company previously increased the dividend by 11% in February 2021.
“After another strong year of growth and solid execution by our team, we are pleased to announce an increase in our quarterly dividend,” said Stephen G. Kaniewski, President and Chief Executive Officer. “This increase reflects our commitment to a balanced capital allocation strategy and ability to consistently generate solid cash flow. We continue to strengthen our organization for the future by investing in the sustained, long-term growth of our business, both organically and through strategic acquisitions, while returning additional capital to our shareholders.”
About Valmont Industries, Inc. For over 75 years, Valmont® has been a global leader in creating vital infrastructure and advancing agricultural productivity. Today, we remain committed to doing more with less by innovating through technology. Learn more about how we’re Conserving Resources. Improving Life.® at valmont.com.
