STRATTEC SECURITY CORPORATION Declares Quarterly Dividend
February 26 2020 - 4:00PM
STRATTEC SECURITY CORPORATION (NASDAQ:STRT) announced today that
the Company’s Board of Directors, at its meeting held February 25,
2020, declared a cash dividend for the Company’s 2020 fiscal third
quarter of $0.14 per common share. The dividend is payable on
March 27, 2020 to shareholders of record as of March 13, 2020.
STRATTEC designs, develops, manufactures and
markets automotive Access Control Products, including mechanical
locks and keys, electronically enhanced locks and keys, steering
column and instrument panel ignition lock housings, latches, power
sliding side door systems, power lift gate systems, power deck lid
systems, door handles and related products. These products are
provided to customers in North America, and on a global basis
through a unique strategic relationship with WITTE Automotive of
Velbert, Germany and ADAC Automotive of Grand Rapids,
Michigan. Under this relationship, STRATTEC, WITTE and ADAC
market our products to global customers under the “VAST” brand
name. STRATTEC’s history in the automotive business spans
over 110 years.
Certain statements contained in this release
contain “forward-looking statements” within the meaning of the
Private Securities Litigation Reform Act of 1995. These statements
may be identified by the use of forward-looking words or phrases
such as “anticipate,” “believe,” “could,” “expect,” “intend,”
“may,” “planned,” “potential,” “should,” “will,” and
“would.” Such forward-looking statements in this
release are inherently subject to many uncertainties in the
Company’s operations and business environment. These
uncertainties include general economic conditions, in particular,
relating to the automotive industry, consumer demand for the
Company’s and its customers’ products, competitive and
technological developments, customer purchasing actions, changes in
warranty provisions and customers’ product recall policies, foreign
currency fluctuations, uncertainties stemming from U.S. trade
policies, tariffs and reaction to same from foreign countries and
costs of operations (including fluctuations in the cost of raw
materials). Shareholders, potential investors and other
readers are urged to consider these factors carefully in evaluating
the forward-looking statements and are cautioned not to place undue
reliance on such forward-looking statements. The
forward-looking statements made herein are only made as of the date
of this press release and the Company undertakes no obligation to
publicly update such forward-looking statements to reflect
subsequent events or circumstances occurring after the date of this
release. In addition, such uncertainties and other
operational matters are discussed further in the Company’s
quarterly and annual filings with the Securities and Exchange
Commission.
Contact: Pat HansenSenior Vice President
andChief Financial Officer414-247-3435www.strattec.com
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