Twin Disc (TWIN) Announces Temporary Dividend Suspension

Twin Disc, Inc. (Nasdaq: TWIN) announced that the Board of Directors has temporarily suspended the Company’s quarterly cash dividend. The suspension of the dividend is part of the Company’s cost saving and capital allocation initiatives, as a result of the significant downturn in certain of the Company’s end markets. This action will conserve over $1.0 million in cash quarterly and will allow the Company additional flexibility to invest in projects that will drive efficiency and profitable growth.

David B. Rayburn, Chairman, stated: “Over the past several quarters, management and the Board of Directors have had to make difficult decisions to manage cash as a result of the prolonged downturn in several of the Company’s end markets. These decisions are not taken lightly and we understand these actions are difficult for our employees, communities, and shareholders.”

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