Moog Announces Cash Dividend
January 25 2019 - 8:00AM
Business Wire
The Board of Directors of Moog Inc. (NYSE: MOG.A and MOG.B) has
declared a quarterly dividend of $.25 per share on the Company’s
issued and outstanding shares of Class A common stock and Class B
common stock. The dividend will be paid on March 4, 2019 to all
shareholders of record as of the close of business on February 15,
2019.
The dividend represents a use of cash of approximately $9
million. Future declarations of quarterly dividends are subject to
the determination and discretion of Moog’s Board of Directors.
Moog Inc. is a worldwide designer, manufacturer, and integrator
of precision control components and systems. Moog’s
high-performance systems control military and commercial aircraft,
satellites and space vehicles, launch vehicles, missiles, automated
industrial machinery, marine and medical equipment. Additional
information about the company can be found at www.moog.com.
Cautionary Statement
Information included or incorporated by reference in this report
that does not consist of historical facts, including statements
accompanied by or containing words such as “may,” “will,” “should,”
“believes,” “expects,” “expected,” “intends,” “plans,” “projects,”
“approximate,” “estimates,” “predicts,” “potential,” “outlook,”
“forecast,” “anticipates,” “presume” and “assume,” are
forward-looking statements. Such forward-looking statements are
made pursuant to the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. These forward-looking
statements reflect the Company’s current views with respect to
certain current and future events and financial performance and are
not guarantees of future performance. This includes but is not
limited to, the Company’s expectation and ability to pay a
quarterly cash dividend on its common stock in the future, subject
to the determination by the board of directors, and based on an
evaluation of company earnings, financial condition and
requirements, business conditions, capital allocation
determinations and other factors, risks and uncertainties. The
impact or occurrence of these could cause actual results to differ
materially from the expected results described in the
forward-looking statements. These important factors, risks and
uncertainties include:
- the markets we serve are cyclical and
sensitive to domestic and foreign economic conditions and events,
which may cause our operating results to fluctuate;
- we operate in highly competitive
markets with competitors who may have greater resources than we
possess;
- we depend heavily on government
contracts that may not be fully funded or may be terminated, and
the failure to receive funding or the termination of one or more of
these contracts could reduce our sales and increase our costs;
- we make estimates in accounting for
over time contracts, and changes in these estimates may have
significant impacts on our earnings;
- we enter into fixed-price contracts,
which could subject us to losses if we have cost overruns;
- we may not realize the full amounts
reflected in our backlog as revenue, which could adversely affect
our future revenue and growth prospects;
- if our subcontractors or suppliers fail
to perform their contractual obligations, our prime contract
performance and our ability to obtain future business could be
materially and adversely impacted;
- contracting on government programs is
subject to significant regulation, including rules related to
bidding, billing and accounting kickbacks and false claims, and any
non-compliance could subject us to fines and penalties or possible
debarment;
- the loss of The Boeing Company as a
customer or a significant reduction in sales to The Boeing Company
could adversely impact our operating results;
- our new product research and
development efforts may not be successful which could reduce our
sales and earnings;
- our inability to adequately enforce and
protect our intellectual property or defend against assertions of
infringement could prevent or restrict our ability to compete;
- our business operations may be
adversely affected by information systems interruptions, intrusions
or new software implementations;
- our indebtedness and restrictive
covenants under our credit facilities could limit our operational
and financial flexibility;
- significant changes in discount rates,
rates of return on pension assets, mortality tables and other
factors could adversely affect our earnings and equity and increase
our pension funding requirements;
- a write-off of all or part of our
goodwill or other intangible assets could adversely affect our
operating results and net worth;
- our sales and earnings may be affected
if we cannot identify, acquire or integrate strategic acquisitions,
or if we engage in divesting activities;
- our operations in foreign countries
expose us to political and currency risks and adverse changes in
local legal and regulatory environments;
- unforeseen exposure to additional
income tax liabilities may affect our operating results;
- government regulations could limit our
ability to sell our products outside the United States and
otherwise adversely affect our business;
- the failure or misuse of our products
may damage our reputation, necessitate a product recall or result
in claims against us that exceed our insurance coverage, thereby
requiring us to pay significant damages;
- we are involved in various legal
proceedings, the outcome of which may be unfavorable to us;
- future terror attacks, war, natural
disasters or other catastrophic events beyond our control could
negatively impact our business; and
- our operations are subject to
environmental laws, and complying with those laws may cause us to
incur significant costs.
These factors are not exhaustive. New factors, risks and
uncertainties may emerge from time to time that may affect the
forward-looking statements made herein. Given these factors, risks
and uncertainties, investors should not place undue reliance on
forward-looking statements as predictive of future results. We
disclaim any obligation to update the forward-looking statements
made in this report.
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version on businesswire.com: https://www.businesswire.com/news/home/20190125005045/en/
Ann Marie Luhr716-687-4225
Moog (NYSE:MOG.B)
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