ALAMO GROUP INC. DECLARES HIGHER REGULAR QUARTERLY DIVIDEND

Rhea-AI Summary

Alamo Group (NYSE: ALG) has announced a quarterly dividend increase of $0.04 per share, bringing the new quarterly dividend to $0.30 per share. This represents a significant increase of over 15% from the previous dividend amount. The dividend will be paid on January 29, 2025, to shareholders of record as of January 16, 2025.

The substantial dividend increase demonstrates the company's commitment to shareholder value and aligns with its disciplined capital allocation strategy. The consistent pattern of annual dividend increases reflects the company's business resilience and management's confidence in future performance.

Positive

• 15% increase in quarterly dividend from $0.26 to $0.30 per share
• Demonstrates strong cash flow generation capability
• Shows management confidence in company's future performance
• Indicates business resilience and financial stability

Negative

• None.

News Market Reaction – ALG

+1.04%

1 alert

+1.04% News Effect

On the day this news was published, ALG gained 1.04%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

SEGUIN, Texas, Jan. 2, 2025 /PRNewswire/ -- Alamo Group Inc. (NYSE: ALG) announced today that its Board of Directors has declared a quarterly dividend of $0.30 per share, raising the quarterly dividend amount by $0.04 per quarter. This significant dividend increase of more than 15 percent underscores Alamo Group's unwavering commitment to delivering long-term value to its shareholders and is aligned with the Company's disciplined capital allocation strategy. The consistency of the Company's annual dividend increases reflects the resilience of the business and continued confidence in the Company's future. Payment of the January dividend will be made on January 29, 2025, to shareholders of record at the close of business on January 16, 2025.

About Alamo Group

Alamo Group is a leader in the design, manufacture, distribution, and service of high-quality equipment for vegetation management, infrastructure maintenance and other applications. Our products include truck and tractor mounted mowing and other vegetation maintenance equipment, street sweepers, snow removal equipment, excavators, vacuum trucks, other industrial equipment, agricultural implements, forestry equipment and related after-market parts and services. The Company, founded in 1969, has approximately 4,000 employees and operates 28 plants in North America, Europe, Australia, and Brazil as of September 30, 2024. The corporate offices of Alamo Group Inc. are located in Seguin, Texas.

Forward Looking Statements

This release contains forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause the Company's actual results in future periods to differ materially from forecasted results. Among those factors which could cause actual results to differ materially are the following: adverse economic conditions which could lead to a reduction in overall market demand, supply chain disruptions, labor constraints, unanticipated acquisition results, increasing costs due to inflation, disease outbreaks, geopolitical risks, including effects of the war in the Ukraine and the Middle East, competition, weather, seasonality, currency-related issues, and other risk factors listed from time to time in the Company's SEC reports. The Company does not undertake any obligation to update the information contained herein, which speaks only as of this date.

View original content:https://www.prnewswire.com/news-releases/alamo-group-inc-declares-higher-regular-quarterly-dividend-302341534.html

SOURCE Alamo Group Inc.

FAQ

What is the new quarterly dividend amount for Alamo Group (ALG) stock?

Alamo Group's new quarterly dividend is $0.30 per share, representing a $0.04 increase per quarter.

When will Alamo Group (ALG) pay its January 2025 dividend?

Alamo Group will pay its January 2025 dividend on January 29, 2025, to shareholders of record as of January 16, 2025.

What is the percentage increase in Alamo Group's (ALG) quarterly dividend for 2025?

Alamo Group has increased its quarterly dividend by more than 15% for 2025.

What is the record date for Alamo Group's (ALG) January 2025 dividend?

The record date for Alamo Group's January 2025 dividend is January 16, 2025.

How does the 2025 dividend increase reflect Alamo Group's (ALG) business performance?

The significant dividend increase reflects the company's business resilience, strong financial performance, and management's confidence in future growth.