Valmont Increases Quarterly Dividend and Announces $400 Million Share Repurchase Reauthorization
Valmont Industries (NYSE: VMI) announced an increased quarterly dividend and the reauthorization of its share repurchase program. The new quarterly cash dividend is set at $0.60 per share, a 9% increase from the previous $0.55, payable on April 14, 2023, to shareholders of record on March 31, 2023. Additionally, the company will have authorization to repurchase up to $400 million in common stock under the renewed program. This decision is backed by strong cash flow generation and reflects the company's commitment to enhancing shareholder value while maintaining a disciplined growth strategy.
- Quarterly dividend increased to $0.60 per share, up 9% from $0.55, indicating earnings growth.
- Reauthorization of stock repurchase program allows for $400 million in share buybacks, enhancing shareholder value.
- Strong financial performance in 2022 supports ongoing capital deployment strategies.
- None.
Under the reauthorization, which will be effective once the current authorization is completed, the Company is authorized to purchase up to
The Valmont Board also approved an increase to its quarterly cash dividend to
“Our record financial performance in 2022, including strong cash flow generation, creates further opportunities to meaningfully deploy capital. While we remain committed to a disciplined approach of growing our businesses and returning cash to shareholders, reauthorizing our stock repurchase program provides us with additional flexibility to leverage our performance,” said
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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.
Concerning Forward-Looking Statements
This release contains forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on assumptions that management has made in light of experience in the industries in which Valmont operates, as well as management’s perceptions of historical trends, current conditions, expected future developments and other factors believed to be appropriate under the circumstances. As you read and consider this release, you should understand that these statements are not guarantees of performance or results. They involve risks, uncertainties (some of which are beyond Valmont’s control) and assumptions. Although management believes that these forward-looking statements are based on reasonable assumptions, you should be aware that many factors could affect Valmont’s actual financial results and cause them to differ materially from those anticipated in the forward-looking statements. These factors include among other things, the continuing and developing effects of the pandemic including the effects of the outbreak on the general economy and the specific economic effects on the Company’s business and that of its customers and suppliers, risk factors described from time to time in Valmont’s reports to the
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Renee.Campbell@valmont.com
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