AAON Announces Increase in Cash Dividend and Charitable Donation in Recognition of Founder Norman H. Asbjornson

Rhea-AI Summary

AAON has declared a semi-annual cash dividend increase of 18.75% to $0.19 per share, amounting to $0.38 annually, effective July 1, 2020, for shareholders on record by June 3, 2020. The CEO emphasized the company’s strong capital position in supporting this dividend. Additionally, AAON approved a $1.25 million donation to the Winifred Montana Public School District for a new school building, honoring the legacy of its founder. The donation reflects AAON's commitment to community support.

Positive

• Dividend increased by 18.75% to $0.19 per share, signaling strong financial health.
• Company's strong capital position allows for increased dividends, enhancing shareholder value.

Negative

• None.

TULSA, Okla., May 15, 2020 (GLOBE NEWSWIRE) -- AAON, Inc. (NASDAQ-AAON), today announced that its Board of Directors has declared a $0.03 increase in the Company’s regular semi-annual cash dividend, to $0.19 per share or $0.38 annually (an 18.75% increase from the previous $0.16 per share or $0.32 annually).  The next cash dividend will be payable on July 1, 2020, to stockholders of record as of the close of business on June 3, 2020.

Gary D. Fields, President & CEO, stated, “We continually work to create meaningful value for our stockholders and are pleased our strong capital position allows us to do so through the increased cash dividend.”

The company also today announced that its Board of Directors has approved a $1.25 million donation to the Winifred Montana Public School District, to be utilized in connection with the construction of a new K-12 public school building in Winifred, Montana, the hometown of the company’s Founder and Executive Chairman, Norman H. Asbjornson.

Ken Lackey, Lead Independent Director, stated, “The tremendous success achieved by AAON since its inception is the direct result of the strategic vision of the company’s Founder and Executive Chairman, Norm Asbjornson.  We are especially pleased to make this donation in recognition of Norm’s countless contributions to AAON as he transitions from CEO to Executive Chairman, and can think of no better way to honor his legacy than to give back directly to the community where Norm was raised, Winifred, Montana.”

About AAON
AAON, Inc. is engaged in the engineering, manufacturing, marketing and sale of air conditioning and heating equipment consisting of standard, semi-custom and custom rooftop units, chillers, packaged outdoor mechanical rooms, air handling units, makeup air units, energy recovery units, condensing units, geothermal/water-source heat pumps, coils and controls.  Since the founding of AAON in 1988, AAON has maintained a commitment to design, develop, manufacture and deliver heating and cooling products to perform beyond all expectations and demonstrate the value of AAON to our customers.  For more information, please visit www.AAON.com.

Certain statements in this news release may be “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended.  Statements regarding future prospects and developments are based upon current expectations and involve certain risks and uncertainties that could cause actual results and developments to differ materially from the forward-looking statements.

Contact Information
Jerry R. Levine 
Phone: (914) 244-0292
Fax: (914) 244-0295
Email: jrladvisor@yahoo.com

FAQ

What is the new dividend amount declared by AAON?

AAON declared a new dividend amount of $0.19 per share.

When will the next dividend be payable to shareholders?

The next dividend will be payable on July 1, 2020.

What is the annual dividend amount for AAON after the increase?

The annual dividend amount for AAON after the increase is $0.38.

What is the significance of the donation made by AAON?

AAON approved a $1.25 million donation to support the construction of a new K-12 school in Winifred, Montana.

What date is the record for shareholders to receive the dividend?

The record date for shareholders to receive the dividend is June 3, 2020.