By Adam L. Cataldo
Alamo Group raised its quarterly dividend to 30 cents per share from 26 cents.
The board of directors decision to increase the quarterly payout reflects the resilience of Alamo's business and confidence in the future, the company said on Thursday.
The new dividend totals $1.20 per share on an annual basis. That is equivalent to yield of about 0.67% based on Alamo's latest closing price of $180.17.
The dividend will be paid Jan. 29 to shareholders of record at the close of business Jan. 16.
Based in Seguin, Texas, Alamo is a designer, manufacturer, distributor, and servicer of high-quality equipment for vegetation management, infrastructure maintenance and other applications.
Write to Adam Cataldo at adam.cataldo@wsj.com
(END) Dow Jones Newswires
January 02, 2025 16:55 ET (21:55 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.