Altra Industrial Motion Corp. Announces First Quarter 2016 Dividend
February 11 2016 - 11:17AM
Altra Industrial Motion Corp. (Nasdaq:AIMC), a leading global
supplier of electromechanical power transmission and motion control
products, today announced that its Board of Directors has approved
the payment of a quarterly cash dividend of $0.15 per share for the
first quarter of 2016. This is the sixteenth consecutive dividend
in the Company’s history. The dividend will be paid on April 4,
2016 to shareholders of record as of the close of business on March
18, 2016. Future declarations of quarterly cash dividends are
subject to approval by the Board of Directors and to the Board's
continuing determination that the declaration of dividends are in
the best interests of Altra's shareholders and are in compliance
with all laws and agreements of Altra applicable to the declaration
and payment of cash dividends. Future dividends may be
adjusted at the Board’s discretion based on market conditions and
capital availability.
About Altra Industrial Motion Corp.
Altra Industrial Motion Corp., through its subsidiaries, is a
leading global designer, producer and marketer of a wide range of
electromechanical power transmission products. The Company brings
together strong brands covering over 40 product lines with
production facilities in twelve countries. Altra's leading
brands include Ameridrives Couplings, Bauer Gear Motor, Bibby
Turboflex, Boston Gear, Delroyd Worm Gear, Formsprag Clutch,
Guardian Couplings, Huco, Industrial Clutch, Inertia Dynamics,
Kilian Manufacturing, Lamiflex Couplings, Marland Clutch, Matrix,
Nuttall Gear, Stieber Clutch, Svendborg Brakes, TB Wood's, Twiflex,
Warner Electric, Warner Linear, and Wichita Clutch.
All statements, other than statements of historical fact
included in this release are forward-looking statements, as that
term is defined in the Private Securities Litigation Reform Act of
1995. These statements include, but are not limited to, any
statement that may predict, forecast, indicate or imply future
results, performance, achievements or events. Forward-looking
statements can generally be identified by phrases such as
"believes," "expects," "potential," "continues," "may," "should,"
"seeks," "predicts," "anticipates," "intends," "projects,"
"estimates," "plans," "could," "designed", "should be," and other
similar expressions that denote expectations of future or
conditional events rather than statements of fact. Forward-looking
statements also may relate to strategies, plans and objectives for,
and potential results of, future operations, financial results,
financial condition, business prospects, growth strategy and
liquidity, and are based upon financial data, market assumptions
and management's current business plans and beliefs or current
estimates of future results or trends available only as of the time
the statements are made, which may become out of date or
incomplete. Forward-looking statements are inherently uncertain,
and investors must recognize that events could differ significantly
from our expectations. These statements include, but may not be
limited to, the payment and maintenance of a quarterly
dividend.
In addition to the risks and uncertainties noted in this
release, there are certain factors that could cause actual results
to differ materially from those anticipated by some of the
statements made. These include: (1) competitive pressures, (2)
changes in economic conditions in the United States and
abroad and the cyclical nature of our markets, (3) loss of
distributors, (4) the ability to develop new products and respond
to customer needs, (5) risks associated with international
operations, including currency risks, (6) accuracy of estimated
forecasts of OEM customers and the impact of the current global
economic environment on our customers, (7) risks associated with a
disruption to our supply chain, (8) fluctuations in the costs of
raw materials used in our products, (9) product liability claims,
(10) work stoppages and other labor issues, (11) changes in
employment, environmental, tax and other laws and changes in the
enforcement of laws, (12) loss of key management and other
personnel, (13) risks associated with compliance with environmental
laws, (14) the ability to successfully execute, manage and
integrate key acquisitions and mergers, (15) failure to obtain or
protect intellectual property rights, (16) risks associated with
impairment of goodwill or intangibles assets, (17) failure of
operating equipment or information technology infrastructure, (18)
risks associated with our debt leverage and operating covenants
under our debt instruments, (19) risks associated with restrictions
contained in our Convertible Notes and Credit Facility, (20) risks
associated with compliance with tax laws, (21) risks associated
with the global recession and volatility and disruption in the
global financial markets, (22) risks associated with
implementation of our ERP system, (23) risks associated with the
Svendborg and Guardian acquisitions and integration and other
acquisitions, (24) risks associated with the Company's investment
in a manufacturing facility in China, (25) risks associated
with certain minimum purchase agreements we have with suppliers,
(26) risks associated with our exposure to variable interest rates
and foreign currency exchange rates, (27) risks associated with
interest rate swap contracts, (28) risks associated with the
potential dilution of our common stock as a result of our
convertible notes, (29) risks associated with our exposure to
renewable energy markets, (30) risks related to regulations
regarding conflict minerals, (31) risks related to restructuring
and plant consolidations and (32) other risks, uncertainties and
other factors described in the Company's quarterly reports on Form
10-Q and annual reports on Form 10-K and in the Company's other
filings with the U.S. Securities and Exchange
Commission (SEC) or in materials incorporated therein by
reference. Except as required by applicable law, Altra Industrial
Motion Corp. does not intend to, update or alter its forward
looking statements, whether as a result of new information, future
events or otherwise. AIMC-E
Contacts:
Christian Storch
Chief Financial Officer
Altra Industrial Motion Corp.
781-917-0541
Email: christian.storch@altramotion.com
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