Argan, Inc. Declares 2017 Regular Dividend of $1.00 Per Share and Announces Intent to Pay Quarterly Dividends in 2018
September 14 2017 - 4:15PM
Business Wire
Argan, Inc. (NYSE: AGX) today announced that its Board of
Directors declared a regular cash dividend in the amount of $1.00
per share of common stock, payable October 31, 2017 to stockholders
of record at the close of business on October 20, 2017 with an
ex-dividend date of October 19, 2017. In addition, the Company
announced that its Board of Directors intends to declare a regular
quarterly dividend of $0.25 per share of common stock starting in
the first quarter of our fiscal year ending January 31, 2019.
Rainer Bosselmann, Chairman and Chief Executive Officer,
commented, “Argan is pleased to announce its continued commitment
to paying a regular cash dividend, which was increased to $1.00
this year. In addition, the continuing successful performance by
the power plant project teams of Gemma has convinced the Board to
pay a quarterly dividend next fiscal year to reward our
stockholders more frequently for their continued support.”
About Argan, Inc.
Argan’s primary business is providing a full range of services
to the power industry including the engineering, procurement and
construction of natural gas-fired power plants, along with related
commissioning, operations management, maintenance, project
development and consulting services, through its Gemma Power
Systems and Atlantic Projects Company operations. Argan also owns
SMC Infrastructure Solutions, which provides telecommunications
infrastructure services, and The Roberts Company, which is a fully
integrated fabrication, construction and industrial plant services
company.
Certain matters discussed in this press release may constitute
forward-looking statements within the meaning of the federal
securities laws and are subject to risks and uncertainties
including, but not limited to: (1) the continued strong
performance of our power industry services business; (2) the
Company’s ability to successfully and profitably integrate
acquisitions; and (3) the Company’s ability to achieve its
business strategy while effectively managing costs and expenses.
Actual results and the timing of certain events could differ
materially from those projected in or contemplated by the
forward-looking statements due to a number of factors detailed from
time to time in Argan’s filings with the SEC. In addition,
reference is hereby made to cautionary statements with respect to
risk factors set forth in the Company’s most recent reports on Form
10-K and 10-Q, and other SEC filings.
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version on businesswire.com: http://www.businesswire.com/news/home/20170914006302/en/
Argan, Inc.Company Contact:Rainer Bosselmann,
301-315-0027orInvestor Relations Contact:David Watson,
301-315-0027
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