Altra Industrial Motion Corp. Announces First Quarter 2019 Dividend
February 12 2019 - 04:05PM
Altra Industrial Motion Corp. (Nasdaq: AIMC), a leading global
supplier of electromechanical power transmission and motion control
products, today announced that its Board of Directors has approved
the payment of a quarterly cash dividend of $0.17 per share for the
first quarter of 2019. This is the twenty-eighth consecutive
dividend in the Company’s history. The dividend will be paid on
April 2, 2019 to shareholders of record as of the close of business
on March 18, 2019. Future declarations of quarterly cash dividends
are subject to approval by the Board of Directors and to the
Board's continuing determination that the declaration of dividends
are in the best interests of Altra's shareholders and are in
compliance with all laws and agreements of Altra applicable to the
declaration and payment of cash dividends. Future dividends
may be adjusted at the Board’s discretion based on market
conditions and capital availability.
About Altra Industrial Motion Corp.
Altra Industrial Motion Corp. is a premier industrial
manufacturer of highly engineered power transmission, motion
control and engine braking systems and components. Altra's
portfolio consists of 27 well-respected brands including Bauer Gear
Motor, Boston Gear, Jacobs Vehicle Systems, Kollmorgen, Portescap,
Stromag, Svendborg Brakes, TB Wood's, Thomson and Warner Electric.
Headquartered in Braintree, Massachusetts, Altra has approximately
9,300 employees and over 50 production facilities in 16 countries
around the world.
All statements, other than statements of historical fact
included in this release, are forward-looking statements, as that
term is defined in the Private Securities Litigation Reform Act of
1995. These statements include, but are not limited to, any
statement that may predict, forecast, indicate or imply future
results, performance, achievements or events. Forward-looking
statements can generally be identified by phrases such as
"believes," "expects," "potential," "continues," "may," "should,"
"seeks," "predicts," "anticipates," "intends," "projects,"
"estimates," "plans," "could," "designed", "should be," and other
similar expressions that denote expectations of future or
conditional events rather than statements of fact. Forward-looking
statements also may relate to strategies, plans and objectives for,
and potential results of, future operations, financial results,
financial condition, business prospects, growth strategy and
liquidity, and are based upon financial data, market assumptions
and management's current business plans and beliefs or current
estimates of future results or trends available only as of the time
the statements are made, which may become out of date or
incomplete. Forward-looking statements are inherently uncertain,
and investors must recognize that events could differ significantly
from our expectations. These statements include, but may not be
limited to, the payment and maintenance of a quarterly
dividend.
In addition to the risks and uncertainties noted in this
release, there are certain factors that could cause actual results
to differ materially from those anticipated by some of the
statements made. These include: (1) competitive pressures, (2)
changes in economic conditions in the United States and
abroad and the cyclical nature of our markets, (3) loss of
distributors, (4) the ability to develop new products and respond
to customer needs, (5) risks associated with international
operations, including currency risks, (6) accuracy of estimated
forecasts of OEM customers and the impact of the current global
economic environment on our customers, (7) risks associated with a
disruption to our supply chain, (8) fluctuations in the costs of
raw materials used in our products, (9) product liability claims,
(10) work stoppages and other labor issues, (11) changes in
employment, environmental, tax and other laws and changes in the
enforcement of laws, (12) loss of key management and other
personnel, (13) risks associated with compliance with environmental
laws, (14) the ability to successfully execute, manage and
integrate key acquisitions and mergers, (15) failure to obtain or
protect intellectual property rights, (16) risks associated with
impairment of goodwill or intangibles assets, (17) failure of
operating equipment or information technology infrastructure, (18)
risks associated with our debt leverage and operating covenants
under our debt instruments, (19) risks associated with restrictions
contained in our Credit Facility, (20) risks associated with
compliance with tax laws, (21) risks associated with the global
recession and volatility and disruption in the global financial
markets, (22) risks associated with implementation of our ERP
system, (23) risks associated with the Svendborg, Stromag and
Guardian acquisitions and integration and other acquisitions, (24)
risks associated with certain minimum purchase agreements we have
with suppliers, (25) risks associated with our exposure to variable
interest rates and foreign currency exchange rates, (26) risks
associated with interest rate swap contracts, (27) risks associated
with the acquisition of Fortive’s A & S Platform, including the
costs associated with the acquisition (28) risks associated with
our exposure to renewable energy markets, (29) risks related to
regulations regarding conflict minerals, (30) risks related to
restructuring and plant consolidations, and (31) other risks,
uncertainties and other factors described in the Company's
quarterly reports on Form 10-Q and annual reports on Form 10-K and
in the Company's other filings with the U.S. Securities and
Exchange Commission (SEC) or in materials incorporated therein
by reference. Except as required by applicable law, Altra
Industrial Motion Corp. does not intend to, update or alter
its forward looking statements, whether as a result of new
information, future events or otherwise. AIMC-G
Contacts: Christian StorchChief Financial
OfficerAltra Industrial Motion Corp.781-917-0541Email:
christian.storch@altramotion.com
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