MILWAUKEE, Oct. 10, 2019 /PRNewswire/ -- Directors of A. O.
Smith Corporation (NYSE:AOS) today approved a 9 percent increase in
the company's quarterly cash dividend to $.24 per share. The dividend increase affects the
company's Common Stock and Class A Common Stock.
The dividend is payable on November
15 to shareholders of record October
31.
"A. O. Smith values its shareholders and works hard to ensure
they are rewarded for investing in our company," said Kevin Wheeler, president and chief executive
officer. "We are proud to say the five-year compound annual growth
rate of our dividend is more than 24 percent."
Forward-looking statements
This release contains
statements that the company believes are "forward-looking
statements" within the meaning of the Private Securities Litigation
Reform Act of 1995. Forward-looking statements generally can be
identified by the use of words such as "may," "will," "expect,"
"intend," "estimate," "anticipate," "believe," "forecast,"
"guidance" or words of similar meaning. All forward-looking
statements are subject to risks and uncertainties that could cause
actual results to differ materially from those anticipated as of
the date of this release. Important factors that could cause actual
results to differ materially from these expectations include, among
other things, the following: a slowdown in the growth rate of the
Chinese economy or our key markets and/or a decline in the growth
rate of consumer spending or housing sales in China; potential weakening in the high
efficiency boiler segment in the U.S.; significant volatility in
raw material prices; inability of the company to implement or
maintain pricing actions; potential weakening in U.S. residential
or commercial construction or instability in the company's
replacement markets; foreign currency fluctuations; the company's
inability to successfully integrate or achieve its strategic
objectives resulting from acquisitions; competitive pressures on
the company's businesses; negative impact to the company's
businesses from international tariffs and trade disputes; the
impact of potential information technology or data security
breaches; changes in government regulations or regulatory
requirements; the impact of U.S. Tax Reform and projections for
effective tax rates and one-time expenses under the new law and
adverse developments in general economic, political and business
conditions in key regions of the world. Forward-looking statements
included in this press release are made only as of the date of this
release, and the company is under no obligation to update these
statements to reflect subsequent events or circumstances. All
subsequent written and oral forward-looking statements attributed
to the company, or persons acting on its behalf, are qualified
entirely by these cautionary statements.
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SOURCE A. O. Smith Corporation