Terex Increases Quarterly Dividend to $0.06 Per Share − Announces New $200 Million Share Repurchase Program
February 17 2015 - 4:30PM
Business Wire
Terex Corporation (NYSE: TEX) today announced its Board of
Directors approved a quarterly dividend increase to its
shareholders. The new quarterly cash dividend of $0.06 per share is
an increase of 20% over the 2014 quarterly dividend amount. The
dividend will be made on March 19, 2015 to shareholders of record
as of March 10, 2015.
The Company’s previous $200 million share repurchase program
initiated in December 2013 was completed in December 2014.
Accordingly, the Company today announced a new share repurchase
program, allowing the Company to repurchase an additional $200
million of Terex common stock.
Ron DeFeo, Terex Chairman and Chief Executive Officer, stated,
"We are pleased to be in a position where we can increase the
amount of cash returned to our shareholders. We feel this increased
dividend and new share repurchase program demonstrates our
confidence in our ability to maintain strong free cash flow and our
ongoing commitment to enhancing long-term shareholder value."
It is the Company’s intention that it will pay four quarterly
dividends of $0.06 per share, for an aggregate of $0.24 per share,
for the calendar year 2015. However, future declarations of
quarterly dividends and the establishment of future record and
payment dates are subject to the determination of the Terex Board
of Directors.
Forward Looking Statements
This press release contains forward-looking information based on
the current expectations of Terex Corporation. Because
forward-looking statements involve risks and uncertainties, actual
results could differ materially. Such risks and uncertainties, many
of which are beyond the control of Terex, include those factors
that are more specifically set forth in the public filings of Terex
with the Securities and Exchange Commission. Actual events or the
actual future results of Terex may differ materially from any
forward looking statement due to those and other risks,
uncertainties and significant factors. The forward-looking
statements speak only as of the date of this press release. Terex
expressly disclaims any obligation or undertaking to release
publicly any updates or revisions to any forward-looking statement
included in this press release to reflect any changes in
expectations with regard thereto or any changes in events,
conditions, or circumstances on which any such statement is
based
About Terex
Terex Corporation is a lifting and material handling solutions
company reporting in five business segments: Aerial Work Platforms,
Construction, Cranes, Material Handling & Port Solutions and
Materials Processing. Terex manufactures a broad range of equipment
for use in various industries, including the construction,
infrastructure, manufacturing, shipping, transportation, refining,
energy, utility, quarrying and mining industries. Terex offers
financial products and services to assist in the acquisition of
Terex equipment through Terex Financial Services. Terex uses its
website (www.terex.com) and its Facebook page
(www.facebook.com/TerexCorporation) to make information available
to its investors and the market.
Terex CorporationTom Gelston, 203-222-5943Vice President,
Investor Relationsthomas.gelston@terex.com
Terex (NYSE:TEX)
Historical Stock Chart
From Mar 2024 to Apr 2024
Terex (NYSE:TEX)
Historical Stock Chart
From Apr 2023 to Apr 2024