EnviroStar Boosts Special Cash Dividend 8.3% and Board Approves Name Change to EVI Industries, Inc.
December 11 2018 - 10:30AM
Business Wire
EnviroStar, Inc. (NYSE American: EVI) announced today that its
Board of Directors approved a special cash dividend of $0.13 per
share on EnviroStar’s common stock, an 8.3% increase over EVI’s
special cash dividend declared in December 2017. The dividend is
payable on January 8, 2019 to stockholders of record at the close
of business on December 26, 2018.
Additionally, EVI’s Board of Directors approved changing the
Company’s corporate name to “EVI Industries, Inc.” The name change
signifies the Company’s focus on executing its buy-and-build growth
strategy in the commercial, industrial, and vended laundry industry
and across a group of industries that meet its strategic
criteria.
The Company expects to effect the name change on or about
December 21, 2018. The name change will not impact the ticker
symbol of the Company’s common stock, which will continue to trade
on the NYSE American under the ticker symbol “EVI.” Under Delaware
law, stockholder approval of the name change is not required.
About EnviroStar
EnviroStar, Inc., through its wholly-owned subsidiaries, is a
distributor that sells, leases, and rents commercial, industrial,
and vended laundry and dry cleaning equipment and steam and hot
water boilers manufactured by others, supplies related replacement
parts and accessories, designs and plans turn-key laundry, dry
cleaning, and boiler systems, and provides installation and
maintenance services to thousands of customers, which include
commercial, industrial, institutional, government, and retail
customers. These activities are conducted in the United States,
Canada, the Caribbean and Latin America.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the safe harbor provisions of the U.S. Private
Securities Litigation Reform Act of 1995. Forward-looking
statements may be identified by use of the words “may,” “will,”
“believes,” “expects,” “anticipates,” “intends,” “plans,”
“estimates,” “projects,” “could,” “would,” “should” or similar
expressions or statements. Actual results, performance or
achievements could differ materially from those contemplated,
expressed or implied by the forward-looking statements.
Forward-looking statements are based largely on the expectations,
beliefs and assumptions of EVI’s management and on the information
currently available to it and are subject to a number of risks and
uncertainties that may affect EVI, including its future plans,
operations, business, strategies, prospects, operating results and
financial position. These risks and uncertainties include, without
limitation, those relating to the timing and effects of the
corporate name change and risks associated with the EVI’s
buy-and-build growth strategy, including EVI’s ability to
successfully execute its buy-and-build growth strategy in the
commercial, industrial, and vended laundry industry and/or in any
related industries and risks relating to EVI’s ability to
successfully enter into and compete effectively in related
industries as well as trends related to those industries and the
timing of any such efforts, and other economic, competitive,
governmental, technological and other risks and factors, including
those described in the “Risk Factors” section of EVI’s Annual
Report on Form 10-K for the fiscal year ended June 30, 2018 or
elsewhere in EVI’s filings with the Securities and Exchange
Commission. Many of these risks and factors are beyond EVI’s
control. In addition, future dividends, if any, are subject to
declaration by EVI’s Board of Directors based on factors deemed
relevant by it from time to time, may be restricted by the terms of
EVI’s indebtedness, and may not be declared in the future, whether
with the frequency or in the amounts previously paid or at all.
Further, past performance and perceived trends may not be
indicative of future results. EVI cautions that the foregoing
factors are not exclusive. The reader should not place undue
reliance on any forward-looking statement, which speaks only as of
the date made. EVI does not undertake to, and specifically
disclaims any obligation to, update or supplement any
forward-looking statement, whether as a result of changes in
circumstances, new information, subsequent events or otherwise,
except as may be required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20181211005599/en/
EnviroStar Inc.Henry M. Nahmad (305) 754-8676Michael Steiner
(305) 754-8676
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