BERWYN, PA — AMETEK Inc. (NYSE: AME) has announced a notable increase in its quarterly cash dividend. The boost, approved by the company’s Board of Directors, sees the dividend on common stock rise by 12% to $0.28 per share, up from $0.25.
This dividend hike is set to take effect on March 28, 2024, for shareholders of record as of March 8, 2024. With this increase, the indicated annual rate for dividends will climb to $1.12 per share.
AMETEK’s Chairman and Chief Executive Officer, David A. Zapico, spoke positively about the company’s recent performance. According to Zapico, AMETEK has been delivering robust growth, generating impressive cash flows, and achieving excellent operating results.
The company’s focus remains on strategically deploying its cash flows through acquisitions, driving long-term value for shareholders as it integrates new companies into the AMETEK Growth Model. This model is a strategic initiative aimed at expanding the company’s market reach and enhancing profitability.
Furthermore, the substantial cash flows generated by AMETEK allow the company to consistently increase its cash dividend, providing an additional reward to its shareholders. This increased dividend is a clear signal of AMETEK’s financial strength and its commitment to returning value to its shareholders.
The announcement of the dividend increase follows a series of strategic moves by AMETEK aimed at maintaining its growth trajectory, including recently completed acquisitions and organic growth initiatives. These strategies, coupled with the dividend increase, highlight the company’s dedication to delivering enhanced shareholder value.
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