ParkOhio Announces Quarterly Dividend
July 21 2023 - 10:45AM
Business Wire
The Board of Directors of Park-Ohio Holdings Corp. (NASDAQ:
PKOH) has declared a quarterly cash dividend of $0.125 per share on
the common stock outstanding, to be paid on August 18, 2023, to
shareholders of record as of the close of business on August 4,
2023.
ParkOhio is a diversified international company providing
world-class customers with a supply chain management outsourcing
service, capital equipment used on their production lines, and
manufactured components used to assemble their products.
Headquartered in Cleveland, Ohio, ParkOhio operates more than 130
manufacturing sites and supply chain logistics facilities
worldwide, through three reportable segments: Supply Technologies,
Assembly Components and Engineered Products.
This news release contains forward-looking statements, including
statements regarding future performance of the Company, that are
subject to known and unknown risks, uncertainties and other factors
that may cause our actual results, performance and achievements, or
industry results, to be materially different from any future
results, performance or achievements expressed or implied by such
forward-looking statements. These factors that could cause actual
results to differ materially from expectations include, but are not
limited to, the following: our ability to consummate the sale of
our Aluminum Products business for any reason, including the
inability to enter into a definitive purchase agreement; the
ultimate impact the COVID-19 pandemic has on our business, results
of operations, financial position and liquidity, including, without
limitation, supply chain issues such as the global semiconductor
micro-chip shortage and logistic issues; our substantial
indebtedness; the uncertainty of the global economic environment;
general business conditions and competitive factors, including
pricing pressures and product innovation; demand for our products
and services; the impact of labor disturbances affecting our
customers; raw material availability and pricing; fluctuations in
energy costs; component part availability and pricing; changes in
our relationships with customers and suppliers; the financial
condition of our customers, including the impact of any
bankruptcies; our ability to successfully integrate recent and
future acquisitions into existing operations; the amounts and
timing, if any, of purchases of our common stock; changes in
general economic conditions such as inflation rates, interest
rates, tax rates, unemployment rates, higher labor and healthcare
costs, recessions and changing government policies, laws and
regulations, including those related to the current global
uncertainties and crises, such as tariffs and surcharges; adverse
impacts to us, our suppliers and customers from acts of terrorism
or hostilities, including the conflict between Russia and Ukraine,
or political unrest, including the rising tension between China and
the United States; public health issues, including the outbreak of
COVID-19 and its impact on our facilities and operations and our
customers and suppliers; our ability to meet various covenants,
including financial covenants, contained in the agreements
governing our indebtedness; disruptions, uncertainties or
volatility in the credit markets that may limit our access to
capital; potential disruption due to a partial or complete
reconfiguration of the European Union; increasingly stringent
domestic and foreign governmental regulations, including those
affecting the environment or import and export controls and other
trade barriers; inherent uncertainties involved in assessing our
potential liability for environmental remediation-related
activities; the outcome of pending and future litigation and other
claims and disputes with customers; our dependence on the
automotive and heavy-duty truck industries, which are highly
cyclical; the dependence of the automotive industry on consumer
spending; our ability to negotiate contracts with labor unions; our
dependence on key management; our dependence on information
systems; our ability to continue to pay cash dividends, and the
timing and amount of any such dividends; and the other factors we
describe under “Item 1A. Risk Factors” included in the Company’s
Annual Report on Form 10-K for the year ended December 31, 2022.
Any forward-looking statement speaks only as of the date on which
such statement is made, and we undertake no obligation to update
any forward-looking statement, whether as a result of new
information, future events or otherwise, except as required by law.
In light of these and other uncertainties, the inclusion of a
forward-looking statement herein should not be regarded as a
representation by us that our plans and objectives will be
achieved. The Company assumes no obligation to update the
information in this release.
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version on businesswire.com: https://www.businesswire.com/news/home/20230721868676/en/
MATTHEW V. CRAWFORD PARK-OHIO HOLDINGS CORP. (440) 947-2000
Park Ohio (NASDAQ:PKOH)
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