AAON Announces Increase in Cash Dividend and Charitable Donation in Recognition of Founder Norman H. Asbjornson
May 15 2020 - 7:00AM
AAON, Inc. (NASDAQ-AAON), today announced that its Board of
Directors has declared a $0.03 increase in the Company’s regular
semi-annual cash dividend, to $0.19 per share or $0.38 annually (an
18.75% increase from the previous $0.16 per share or $0.32
annually). The next cash dividend will be payable on July 1,
2020, to stockholders of record as of the close of business on June
3, 2020.
Gary D. Fields, President & CEO, stated, “We
continually work to create meaningful value for our stockholders
and are pleased our strong capital position allows us to do so
through the increased cash dividend.”
The company also today announced that its Board
of Directors has approved a $1.25 million donation to the Winifred
Montana Public School District, to be utilized in connection with
the construction of a new K-12 public school building in Winifred,
Montana, the hometown of the company’s Founder and Executive
Chairman, Norman H. Asbjornson.
Ken Lackey, Lead Independent Director, stated,
“The tremendous success achieved by AAON since its inception is the
direct result of the strategic vision of the company’s Founder and
Executive Chairman, Norm Asbjornson. We are especially
pleased to make this donation in recognition of Norm’s countless
contributions to AAON as he transitions from CEO to Executive
Chairman, and can think of no better way to honor his legacy than
to give back directly to the community where Norm was raised,
Winifred, Montana.”
About AAONAAON, Inc. is engaged
in the engineering, manufacturing, marketing and sale of air
conditioning and heating equipment consisting of standard,
semi-custom and custom rooftop units, chillers, packaged outdoor
mechanical rooms, air handling units, makeup air units, energy
recovery units, condensing units, geothermal/water-source heat
pumps, coils and controls. Since the founding of AAON in
1988, AAON has maintained a commitment to design, develop,
manufacture and deliver heating and cooling products to perform
beyond all expectations and demonstrate the value of AAON to our
customers. For more information, please visit
www.AAON.com.
Certain statements in this news release may be
“forward-looking statements” within the meaning of Section 27A of
the Securities Act of 1933, as amended. Statements regarding
future prospects and developments are based upon current
expectations and involve certain risks and uncertainties that could
cause actual results and developments to differ materially from the
forward-looking statements.
Contact InformationJerry R.
Levine Phone: (914) 244-0292 Fax: (914) 244-0295Email:
jrladvisor@yahoo.com
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