Alamo Group (ALG) Raises Quarterly Dividend 9.1% to $0.12, 0.6% Yield; Announces Share Buyback Up to $30M

December 19, 2018 4:17 PM EST

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Alamo Group (NYSE: ALG) declared a quarterly dividend of $0.12 per share, or $0.48 annualized. This is a 9.1% increase from the prior dividend of $0.11.

The dividend will be payable on January 29, 2019, to stockholders of record on January 17, 2019, with an ex-dividend date of January 16, 2019.

The annual yield on the dividend is 0.6 percent.

The Company also announced that its Board has approved a share repurchase program under which the Company is authorized to repurchase in the aggregate up to $30 million of its outstanding common stock.

"Today's announcement reflects our continued confidence in Alamo Group's future and our commitment to improving overall shareholder value," said Ron Robinson, Alamo Group's President and Chief Executive Officer. "The share repurchase program is intended to enhance shareholder returns by mitigating the dilution effects associated with the issuance of Alamo Group stock under our equity incentive plans."

Under the share repurchase program, which has a five (5) year term, the Company may repurchase shares from time to time on the open market or through privately negotiated transactions. The extent to which the Company repurchases shares and the timing of any such purchases will depend upon market conditions and other corporate considerations, as determined by the Company's management.

For a dividend history and other dividend-related data on Alamo Group (ALG) click here.

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