AO Smith increases quarterly dividend rate to $ 0.28 per share
MILWAUKEE, October 11, 2021 / PRNewswire / – Directors of AO Smith Company (NYSE: AOS) today approved an eight percent increase in the company’s quarterly cash dividend rate to $ 0.28 per share. The dividend increase affects the common shares and Class A common shares of the company.
The dividend is payable on November 15 to registered shareholders 29 october.
“Our dividend increase today reflects our confidence in the large and stable replacement demand inherent in our water heating business, as well as our focus on returning capital to shareholders,” said Kevin wheeler, Chairman and Chief Executive Officer. “We are proud to say that the five-year compound annual growth rate of our dividend rate is over 17% and that we have increased our dividend each year for over 25 years. “
Forward-looking statements
This press release contains statements that the Company considers to be “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can generally be identified by the use of words such as “may”, “will,” “” Expect “,” intend “,” estimate “,” anticipate “,” believe “,” foresee “,” continue “,” direction “or words with similar meaning. All forward-looking statements are subject to risks and uncertainties which could cause actual results to differ materially from those anticipated at the date of this press release. Important factors that could cause actual results to differ materially from these expectations include, among others, the following: negative impacts on the Company’s business, including demand for its products, in particular commercial products, displacement and disruption of operations and workforce, supply chain disruption and liquidity due to the severity and duration of the COVID-19 pandemic; lengthening or worsening supply chain bottlenecks; an uneven recovery in the Chinese economy or a decline in the growth rate of consumer spending or home sales due to China; the negative impact on the Company’s business of international tariffs, trade disputes and geopolitical differences; potential weakening of the high efficiency boiler segment in the United States; significant volatility in the availability of materials and prices; the inability of the Company to implement or maintain pricing actions; the failure of the recovery or the further weakening of residential or commercial construction in the United States or the instability of the Company’s replacement markets; fluctuations in foreign currencies; the inability of the Company to successfully integrate or achieve its strategic objectives resulting from acquisitions; competitive pressures on the Company’s business; the impact of possible information technology or data security breaches; changes in government regulations or regulatory requirements; and adverse developments in general economic, political and trade conditions in key regions of the world. The forward-looking statements included in this press release are made only as of the date of this press release, and the Company has no obligation to update any such statements to reflect subsequent events or circumstances. All subsequent written and oral forward-looking statements attributed to the Company, or to persons acting on its behalf, are fully qualified by these cautionary statements.
About AO Smith
AO Smith Corporation, headquartered at Milwaukee, Wisconsin., is a global leader in applying innovative technology and energy efficient solutions to products manufactured and marketed around the world. Listed on the New York Stock Exchange (NYSE: AOS), the Company is one of the world’s leading manufacturers of residential and commercial water heating equipment and boilers, as well as a manufacturer of water treatment products. ‘water. For more information visit www.aosmith.com.
SOURCE AO Smith Corporation