Espey Increases and Declares Regular Quarterly Dividend of $0.25 Per Share

Rhea-AI Summary

Espey Mfg. & Electronics Corp. (NYSE AMERICAN: ESP) has announced a significant increase in its regular quarterly dividend. The Board of Directors has declared a dividend of $0.25 per share, representing a 25% increase from the previous dividend. This enhanced dividend will be payable on September 27, 2024, to shareholders of record as of September 20, 2024.

Espey specializes in the development, design, and production of military and industrial power supplies/transformers. This dividend increase may signal strong financial performance and confidence in the company's future prospects, potentially attracting income-focused investors.

Positive

• 25% increase in quarterly dividend to $0.25 per share
• Dividend increase suggests strong financial performance and company confidence
• Continued commitment to shareholder returns

Negative

• None.

SARATOGA SPRINGS, N.Y., Sept. 09, 2024 (GLOBE NEWSWIRE) -- The Board of Directors of Espey Mfg. & Electronics Corp. (NYSE AMERICAN: ESP) has declared a regular quarterly dividend of $0.25 per share, a 25% increase over the prior dividend. The dividend will be payable on September 27, 2024 to all shareholders of record on September 20, 2024.

Espey's primary business is the development, design, and production of specialized military and industrial power supplies/transformers. The Company can be found on the Internet at www.espey.com.  

For further information, contact Ms. Katrina Sparano at invest@espey.com.

Certain statements in this press release are "forward-looking statements" and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements represent the Company's current expectations or beliefs concerning future events. The matters covered by these statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those set forth in the forward-looking statements. The Company wishes to caution readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made.

FAQ

What is the new quarterly dividend amount for Espey Mfg. & Electronics Corp. (ESP)?

Espey Mfg. & Electronics Corp. (ESP) has declared a new quarterly dividend of $0.25 per share.

When will Espey's (ESP) increased dividend be payable?

The increased dividend of $0.25 per share will be payable on September 27, 2024.

What is the record date for Espey's (ESP) new quarterly dividend?

The record date for Espey's new quarterly dividend is September 20, 2024.

By what percentage did Espey (ESP) increase its quarterly dividend?

Espey (ESP) increased its quarterly dividend by 25% compared to the prior dividend.

What is Espey Mfg. & Electronics Corp.'s (ESP) primary business?

Espey's primary business is the development, design, and production of specialized military and industrial power supplies/transformers.