Advanced Drainage Systems Announces Quarterly Cash Dividend
August 08 2024 - 6:42AM
Business Wire
Advanced Drainage Systems, Inc. (NYSE: WMS) (“ADS” or the
“Company”), a leading provider of innovative water management
solutions in the stormwater and on-site septic waste water
industries, today announced that its Board of Directors (the
“Board”) has approved a quarterly cash dividend to its shareholders
in the amount of $0.16 per share, a 14% increase over the prior
year dividend amount.
Scott Barbour, President and Chief Executive Officer of Advanced
Drainage Systems, commented, “Today’s dividend announcement is
predicated on the strength of our balance sheet, formidable cash
generation, and ongoing commitment to returning capital to
shareholders. Our strong financial performance and operational
excellence initiatives provide us with the confidence and financial
flexibility to return excess cash to our shareholders while
simultaneously continuing to strategically invest in our
business.”
The quarterly cash dividend of $0.16 per share will be paid on
September 13, 2024, to shareholders of record at the close of
business on August 30, 2024.
About the Company
Advanced Drainage Systems is a leading manufacturer of
innovative stormwater and onsite septic wastewater solutions that
manages the world’s most precious resource: water. ADS and its
subsidiary, Infiltrator Water Technologies, provide superior
stormwater drainage and onsite septic wastewater products used in a
wide variety of markets and applications including commercial,
residential, infrastructure and agriculture, while delivering
unparalleled customer service. ADS manages the industry’s largest
company-owned fleet, an expansive sales team, and a vast
manufacturing network of approximately 70 manufacturing plants and
40 distribution centers. The company is one of the largest plastic
recycling companies in North America, ensuring over half a billion
pounds of plastic is kept out of landfills every year. Founded in
1966, ADS’ water management solutions are designed to last for
decades. To learn more, visit the Company’s website at
www.adspipe.com.
Forward Looking
Statements
Certain statements in this press release may be deemed to be
forward-looking statements. These statements are not historical
facts but rather are based on the Company’s current expectations,
estimates and projections regarding the Company’s business,
operations and other factors relating thereto. Words such as “may,”
“will,” “could,” “would,” “should,” “anticipate,” “predict,”
“potential,” “continue,” “expects,” “intends,” “plans,” “projects,”
“believes,” “estimates,” “confident” and similar expressions are
used to identify these forward-looking statements. Factors that
could cause actual results to differ from those reflected in
forward-looking statements relating to our operations and business
include: fluctuations in the price and availability of resins and
other raw materials and our ability to pass any increased costs of
raw materials on to our customers in a timely manner; disruption or
volatility in general business and economic conditions in the
markets in which we operate; cyclicality and seasonality of the
non-residential and residential construction markets and
infrastructure spending; the risks of increasing competition in our
existing and future markets; uncertainties surrounding the
integration and realization of anticipated benefits of
acquisitions; the effect of weather or seasonality; the loss of any
of our significant customers; the risks of doing business
internationally; the risks of conducting a portion of our
operations through joint ventures; our ability to expand into new
geographic or product markets; the risk associated with
manufacturing processes; the effect of global climate change; our
ability to protect against cybersecurity incidents and disruptions
or failures of our IT systems; our ability to assess and monitor
the effects of artificial intelligence, machine learning, and
robotics on our business and operations; our ability to manage our
supply purchasing and customer credit policies; our ability to
control labor costs and to attract, train and retain highly
qualified employees and key personnel; our ability to protect our
intellectual property rights; changes in laws and regulations,
including environmental laws and regulations; our ability to
appropriately address any environmental, social or governance
concerns that may arise from our activities; the risks associated
with our current levels of indebtedness, including borrowings under
our existing credit agreement and outstanding indebtedness under
our existing senior notes; and other risks and uncertainties
described in the Company’s filings with the SEC. New risks and
uncertainties emerge from time to time and it is not possible for
the Company to predict all risks and uncertainties that could have
an impact on the forward-looking statements contained in this press
release. In light of the significant uncertainties inherent in the
forward-looking information included herein, the inclusion of such
information should not be regarded as a representation by the
Company or any other person that the Company’s expectations,
objectives or plans will be achieved in the timeframe anticipated
or at all. Investors are cautioned not to place undue reliance on
the Company’s forward-looking statements and the Company undertakes
no obligation to publicly update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise, except as required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20240808886226/en/
Michael Higgins VP, Corporate Strategy & Investor Relations
(614) 658-0050 Michael.Higgins@adspipe.com
Advanced Drainage Systems (NYSE:WMS)
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