Wabash National Corporation Reinstates $0.06 Quarterly Dividend Payment
December 13 2016 - 4:30PM
Wabash National Corporation (NYSE:WNC), a diversified industrial
manufacturer and North America’s leading producer of semi-trailer
and liquid transportation systems, today announced a reinstatement
of a dividend program under which the company will pay a regular
quarterly cash dividend to stockholders of its common stock.
“The decision by the Board of Directors to declare
a regular quarterly dividend represents a significant milestone in
the transformation of the Company, demonstrating confidence in our
free cash flow generation and financial outlook, both near and long
term,” said Dick Giromini, chief executive officer. “Our balanced
capital allocation plan, including the reinstated dividend and the
existing share repurchase program, reinforces our commitment to
deliver value to our shareholders while maintaining financial
strength and flexibility to execute our strategic plan for growth
and diversification.”
Wabash National intends to pay a quarterly dividend of $0.06 per
share on its common stock, representing a planned annual dividend
of $0.24 per share. The initial dividend will be payable January
26, 2017, to shareholders of record as of January 5, 2017. Future
dividends will be subject to Board approval.
About Wabash National Corporation Wabash
National Corporation (NYSE:WNC) is a diversified industrial
manufacturer and North America’s leading producer of semi-trailers
and liquid transportation systems. Established in 1985 in
Lafayette, Indiana, the company manufactures a diverse range of
products, including: dry freight and refrigerated trailers,
platform trailers, bulk tank trailers, dry and refrigerated truck
bodies, truck-mounted tanks, intermodal equipment, aircraft
refueling equipment, structural composite panels and products,
trailer aerodynamic solutions, and specialty food grade and
pharmaceutical equipment. Its innovative products are sold under
the following brand names: Wabash National®, Beall®, Benson®,
Brenner® Tank, Bulk Tank International, DuraPlate®, Extract
Technology®, Garsite, Progress Tank, Transcraft®, Walker Engineered
Products, and Walker Transport. Learn more at
www.wabashnational.com.
Safe Harbor StatementThis press release
contains certain forward-looking statements as defined by the
Private Securities Litigation Reform Act of 1995. Forward-looking
statements convey the Company’s current expectations or forecasts
of future events. All statements contained in this press release
other than statements of historical fact are forward-looking
statements. These forward-looking statements include, among other
things, the Company’s intention to pay dividends in the future, the
Company’s growth prospects, prospective free cash flow generation
and financial outlook. These and the Company’s other
forward-looking statements are subject to certain risks and
uncertainties that could cause actual results to differ materially
from those implied by the forward-looking statements. Without
limitation, these risks and uncertainties include the possibility
that the Company’s Board of Directors may discontinue payment of
dividends in the future, uncertain economic conditions including
the possibility that customer demand may not meet our expectations,
increased competition, reliance on certain customers and corporate
partnerships, risks of customer pick-up delays, shortages and costs
of raw materials, risks in implementing and sustaining improvements
in the Company’s manufacturing capacity and cost containment,
dependence on industry trends and timing and costs of
indebtedness. Readers should review and consider the various
disclosures made by the Company in this press release and in the
Company’s reports to its stockholders and periodic reports on Forms
10-K and 10-Q.
Media Contact:
Dana Stelsel
Corporate Communications Manager
(765) 771-5766
dana.stelsel@wabashnational.com
Investor Relations:
Mike Pettit
Vice President, Finance and Investor Relations
(765) 771-5581
michael.pettit@wabashnational.com
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