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
fourth quarter of 2015. This is the fifteenth consecutive dividend
in the Company's history. The dividend will be paid on January 4,
2016 to shareholders of record as of the close of business on
December 18, 2015. 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, and (31)
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
The Altra Industrial Motion Corp. logo is
available at
http://www.globenewswire.com/newsroom/prs/?pkgid=4038
CONTACT: Christian Storch
Chief Financial Officer
Altra Industrial Motion Corp.
781-917-0541
Email: christian.storch@altramotion.com
Altra Industrial Motion (NASDAQ:AIMC)
Historical Stock Chart
From Mar 2024 to Apr 2024
Altra Industrial Motion (NASDAQ:AIMC)
Historical Stock Chart
From Apr 2023 to Apr 2024