Advanced Drainage Systems Announces Quarterly Cash Dividend
November 02 2017 - 6:42AM
Business Wire
Advanced Drainage Systems, Inc. (NYSE:WMS) (“ADS” or the
“Company”), a leading global manufacturer of water management
products and solutions for commercial, residential, infrastructure
and agricultural applications, today announced that its Board of
Directors has approved a quarterly cash dividend to its
shareholders in the amount of $0.07 per share.
The quarterly cash dividend of $0.07 per share will be paid on
December 15, 2017 to shareholders of record at the close of
business on December 1, 2017.
About the Company
Advanced Drainage Systems is the leading manufacturer of high
performance thermoplastic corrugated pipe, providing a
comprehensive suite of water management products and superior
drainage solutions for use in the construction and infrastructure
marketplace. Its innovative products are used across a broad range
of end markets and applications, including non-residential,
residential, agriculture and infrastructure applications. The
Company has established a leading position in many of these end
markets by leveraging its national sales and distribution platform,
its overall product breadth and scale and its manufacturing
excellence. Founded in 1966, the Company operates a global network
of approximately 60 manufacturing plants and over 30 distribution
centers. To learn more about the ADS, please visit the Company’s
website at www.ads-pipe.com.
Forward Looking
Statements
Certain statements in this press release may be deemed to be
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. 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; volatility in general business and economic conditions in
the markets in which we operate, including, without limitation,
factors relating to availability of credit, interest rates,
fluctuations in capital and business and consumer confidence;
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,
including competition from both manufacturers of high performance
thermoplastic corrugated pipe and manufacturers of products using
alternative materials; our ability to continue to convert current
demand for concrete, steel and PVC pipe products into demand for
our high performance thermoplastic corrugated pipe and Allied
Products; 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; our ability to achieve the
acquisition component of our growth strategy; the risk associated
with manufacturing processes; our ability to manage our assets; the
risks associated with our product warranties; our ability to manage
our supply purchasing and customer credit policies; the risks
associated with our self-insured programs; 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
project product mix; the risks associated with our current levels
of indebtedness; our ability to meet future capital requirements
and fund our liquidity needs; and the other risks and uncertainties
described in the Company’s filings with the Securities and Exchange
Commission. 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: http://www.businesswire.com/news/home/20171102005267/en/
Advanced Drainage SystemsMichael Higgins, 614-658-0050Director,
Investor Relations and Business
StrategyMike.Higgins@ads-pipe.com
Advanced Drainage Systems (NYSE:WMS)
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