Form 8-K ADVANCED DRAINAGE SYSTEM For: Nov 12

�

�

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

�

�

FORM 8-K

�

�

CURRENT REPORT

Pursuant to Section�13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): November�12, 2014

�

�

Advanced Drainage Systems, Inc.

(Exact name of registrant as specified in its charter)

�

�

�

Delaware	�	001-36557	�	51-0105665
(State or other Jurisdiction of Incorporation)	�	(Commission File Number)	�	(IRS Employer Identification No.)

�

4640 Trueman Boulevard, Hilliard, Ohio 43026	�	43026
(Address of Principal Executive Offices)	�	(Zip Code)

Registrant�s telephone number, including area code: (614)�658-0050

(Former name or former address if changed since last report.)

�

�

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

�

�	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

�

�	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

�

�	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

�

�	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

�

�

�

---

Item�8.01

Other Events.

On November�12, 2014, Advanced Drainage Systems, Inc. (the �Company�) issued a press release announcing the approval by the Board of Directors of a quarterly cash dividend program and the declaration of an initial cash dividend of $0.04 per share, payable on December�10, 2014 to stockholders of record at the close of business on December�1, 2014. A copy of the Company�s press release is attached hereto as Exhibit�99.1 and hereby incorporated by reference.

�

Item�9.01

Financial Statements and Exhibits.

�

�

(d)

Exhibits

�

99.1	��	Press release, dated November�12, 2014, issued by Advanced Drainage Systems, Inc.

---

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

�

	�		�	ADVANCED DRAINAGE SYSTEMS, INC.
Date: November�12, 2014	�		�	By:	�	/s/ Mark B. Sturgeon
	�		�	Name:	�	Mark B. Sturgeon
	�		�	Title:	�	EVP, CFO, Secretary & Treasurer

Exhibit 99.1

�

ADVANCED DRAINAGE SYSTEMS INITIATES QUARTERLY CASH DIVIDEND

HILLIARD, Ohio � (November 12, 2014) � Advanced Drainage Systems, Inc. (NYSE: WMS) (�ADS� or the �Company�), a leading global manufacturer of water management products and solutions for commercial, residential, infrastructure and agricultural applications, today announced that its Board of Directors has approved a dividend program pursuant to which the Company intends to pay regular quarterly cash dividends on its common stock. The Board of Directors has declared an initial cash dividend of $0.04 per share, payable on December�10, 2014 to stockholders of record at the close of business on December�1, 2014. Future dividends are subject to further approval by the Board of Directors.

Joe Chlapaty, Chairman and Chief Executive Officer of ADS commented, �We are confident in the overall financial strength of our business and the strong cash flow it continues to generate. We believe there are significant opportunities ahead of us to continue delivering profitable growth while also returning cash to our stockholders through a quarterly dividend.�

The Company remains committed to using cash to support growth, particularly investing in the business and making strategic acquisitions that complement the Company�s product offerings and geographic footprint. In addition, the Company is committed to returning a portion of its excess cash to shareholders as indicated in this announcement.

About ADS

Advanced Drainage Systems (ADS) is the leading manufacturer of high performance thermoplastic corrugated pipe, providing a comprehensive suite of water management products and superior drainage solutions for use in the construction and infrastructure marketplace. Its innovative products are used across a broad range of end markets and applications, including non-residential, residential, agriculture and infrastructure applications. The Company has established a leading position in many of these end markets by leveraging its national sales and distribution platform, its overall product breadth and scale and its manufacturing excellence. Founded in 1966, the Company operates a global network of 58 manufacturing plants and 29 distribution centers. To learn more about the ADS, please visit the Company�s website at www.ads-pipe.com.

ADVANCED DRAINAGE SYSTEMS, INC. ��������4640 TRUEMAN BOULEVARD, ��������HILLIARD, OH 43026 TEL: 614 / 658-0050 ��������800 / 733-7473

HTTP://WWW.ADS-PIPE.COM

---

�

Forward Looking Statements

Certain statements in this press release may be deemed to be forward-looking statements within the meaning of Section�27A of the Securities Act of 1933, as amended, and Section�21E of the Securities Exchange Act of 1934, as amended, including statements regarding the initial public offering. These statements are not historical facts but rather are based on the Company�s current expectations, estimates and projections regarding the Company�s business, operations and other factors relating thereto. Words such as �may,� �will,� �could,� �would,� �should,� �anticipate,� �predict,� �potential,� �continue,� �expects,� �intends,� �plans,� �projects,� �believes,� �estimates� and similar expressions are used to identify these forward-looking statements. Factors that could cause actual results to differ from those reflected in forward-looking statements relating to our operations and business include: fluctuations in the price and availability of resins and other raw materials and our ability to pass any increased costs of raw materials on to our customers in a timely manner; volatility in general business and economic conditions in the markets in which we operate, including, without limitation, factors relating to availability of credit, interest rates, fluctuations in capital and business and consumer confidence; cyclicality and seasonality of the non-residential and residential construction markets and infrastructure spending; the risks of increasing competition in our existing and future markets, including competition from both manufacturers of high performance thermoplastic corrugated pipe and manufacturers of products using alternative materials; our ability to continue to convert current demand for concrete, steel and PVC pipe products into demand for our high performance thermoplastic corrugated pipe and Allied Products; the effect of weather or seasonality; the loss of any of our significant customers; the risks of doing business internationally; the risks of conducting a portion of our operations through joint ventures; our ability to expand into new geographic or product markets; our ability to achieve the acquisition component of our growth strategy; the risk associated with manufacturing processes; our ability to manage our assets; the risks associated with our product warranties; our ability to manage our supply purchasing and customer credit policies; the risks associated with our self-insured programs; our ability to control labor costs and to attract, train and retain highly-qualified employees and key personnel; our ability to protect our intellectual property rights; changes in laws and regulations, including environmental laws and regulations; our ability to project product mix; the risks associated with our current levels of indebtedness; our ability to meet future capital requirements and fund our liquidity needs; and the other risks and uncertainties described in the Company�s filings with the Securities and Exchange Commission. New risks and uncertainties emerge from time to time and it is not possible for the Company to predict all risks and uncertainties that could have an impact on the forward-looking statements contained in this press release. In light of the significant uncertainties inherent in the forward-looking information included herein, the inclusion of such information should not be regarded as a representation by the Company or any other person that the Company�s expectations, objectives or plans will be achieved in the timeframe anticipated or at all. Investors are cautioned not to place undue reliance on the Company�s forward-looking statements and the Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

ADVANCED DRAINAGE SYSTEMS, INC. ��������4640 TRUEMAN BOULEVARD, ��������HILLIARD, OH 43026 TEL: 614 / 658-0050 ��������800 / 733-7473

HTTP://WWW.ADS-PIPE.COM

---

�

For more information, please contact:

Michael Higgins

(614) 658-0050

[email protected]

ADVANCED DRAINAGE SYSTEMS, INC. ��������4640 TRUEMAN BOULEVARD, ��������HILLIARD, OH 43026 TEL: 614 / 658-0050 ��������800 / 733-7473

HTTP://WWW.ADS-PIPE.COM

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Advanced Drainage Systems (WMS) PT Raised to $180 at Oppenheimer
• Merck Announces First-Quarter 2024 Financial Results
• Congruent Solutions Appoints Mahesh Natarajan as Chief Revenue Officer