Wabash National Corporation Announces Quarterly Dividend

Rhea-AI Summary

Wabash National Corporation (NYSE: WNC) declared a quarterly dividend of $0.08 per share, payable on July 23, 2020, to shareholders on record as of July 2, 2020. CFO Mike Pettit emphasized the company's expectation for positive free cash flow and noted improvements in business resilience and customer quality, supporting the commitment to dividends. Wabash focuses on engineered solutions in transportation and logistics, manufacturing products like trailers and truck bodies, contributing to a diversified product portfolio.

Positive

• Declared quarterly dividend of $0.08 per share, indicating continued shareholder returns.
• Expectations for positive free cash flow, demonstrating operational resilience.
• Improved quality of customers contributing to business stability.

Negative

• None.

LAFAYETTE, Ind., June 17, 2020 (GLOBE NEWSWIRE) -- Wabash National Corporation (NYSE:WNC) today announced that its board of directors declared a regular quarterly dividend of $0.08 per share of the company’s common stock, payable on July 23, 2020, to stockholders of record on July 2, 2020.

“As we navigate through this extraordinary year, we are driving toward and expecting to generate positive free cash flow.  Over the course of the last cycle, the company’s structure has diversified and the quality of our customers has improved, which contributes to the resilience we are seeing in our business that underpins our commitment to paying our regular quarterly dividend,” said Mike Pettit, chief financial officer.

Wabash National Corporation: Changing How the World Reaches You
As the innovation leader of engineered solutions for the transportation, logistics and distribution industries, Wabash National Corporation (NYSE:WNC) is changing how the world reaches you. Headquartered in Lafayette, Indiana, the company’s mission is to enable customers to succeed with breakthrough ideas and solutions that help them move everything from first to final mile. Wabash National designs and manufactures a diverse range of products, including: dry freight and refrigerated trailers, platform trailers, bulk tank trailers, dry and refrigerated truck bodies, structural composite panels and products, trailer aerodynamic solutions, and specialty food grade and pharmaceutical equipment. Its innovative products are sold under the following brand names: Wabash National®, Beall®, Benson®, Brenner® Tank, Bulk Tank International, DuraPlate®, Extract Technology®, Supreme®, Transcraft®, Walker Engineered Products, and Walker Transport. Learn more at www.wabashnational.com.

Safe Harbor Statement
This press release contains certain forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements convey the Company’s current expectations or forecasts of future events. All statements contained in this press release other than statements of historical fact are forward-looking statements. These forward-looking statements include, among other things, all statements regarding the Company’s outlook for trailer and truck body shipments, backlog, expectations regarding demand levels for trailers, truck bodies, non-trailer equipment and our other diversified product offerings, pricing, profitability and earnings, cash flow and liquidity, opportunity to capture higher margin sales, new product innovations, our growth and diversification strategies, our expectations for improved financial performance during the course of the year and our expectations with regards to capital allocation. These and the Company’s other forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those implied by the forward-looking statements. Without limitation, these risks and uncertainties include the continued integration of Supreme into the Company’s business, adverse reactions to the transaction by customers, suppliers or strategic partners, uncertain economic conditions including the possibility that customer demand may not meet our expectations, increased competition, reliance on certain customers and corporate partnerships, risks of customer pick-up delays, shortages and costs of raw materials including the impact of tariffs or other international trade developments, risks in implementing and sustaining improvements in the Company’s manufacturing operations and cost containment, dependence on industry trends and timing, supplier constraints, labor costs and availability, customer acceptance of and reactions to pricing changes and costs of indebtedness. Readers should review and consider the various disclosures made by the Company in this press release and in the Company’s reports to its stockholders and periodic reports on Forms 10-K and 10-Q.

Media Contact:
Dana Stelsel
Director, Corporate Communications
(765) 771-5766
dana.stelsel@wabashnational.com

Investor Relations:
Ryan Reed
Director, Investor Relations
(765) 490-5664
ryan.reed@wabashnational.com

FAQ

What is the dividend amount announced by Wabash National Corporation?

Wabash National Corporation announced a dividend of $0.08 per share.

When is the dividend payable to shareholders?

The dividend is payable on July 23, 2020.

What is the record date for the dividend payment?

The record date for the dividend payment is July 2, 2020.

What are Wabash National Corporation's expectations for cash flow?

The company expects to generate positive free cash flow.

How has Wabash National Corporation diversified its business?

Wabash has diversified its structure and improved customer quality, enhancing its business resilience.