EnerSys Announces Stock Repurchase Authorization and Quarterly Dividend
November 08 2017 - 4:16PM
EnerSys (NYSE:ENS), the global leader in stored energy solutions
for industrial applications, announced today that its Board of
Directors has established a new $100 million stock repurchase
authorization with no expiration date. The authorized repurchases
will be made from time to time in either the open market or through
privately negotiated transactions. The timing, volume and nature of
share repurchases will be at the sole discretion of management,
dependent on market conditions, applicable securities laws, and
other factors, and may be suspended or discontinued at any time. No
assurance can be given that any particular amount of common stock
will be repurchased. All or part of the repurchases may be
implemented under a Rule 10b5-1 trading plan, which would allow
repurchases under pre-set terms at times when EnerSys might
otherwise be prevented from doing so under insider trading laws or
because of self-imposed blackout periods. This repurchase program
may be modified, extended or terminated by the Board of Directors
at any time.
EnerSys also announced today that its Board of Directors has
declared a quarterly cash dividend of $0.175 per share of common
stock payable on December 29, 2017 to holders of record as of
December 15, 2017.
For more information, contact Thomas O’Neill, Vice President
& Treasurer, EnerSys, P.O. Box 14145, Reading, PA 19612-4145,
USA. Tel: 610-236-4040 or by emailing
investorrelations@enersys.com; Web site: www.enersys.com.
EDITOR’S NOTE: EnerSys, the global leader in stored energy
solutions for industrial applications, manufactures and distributes
reserve power and motive power batteries, battery chargers, power
equipment, battery accessories and outdoor equipment enclosure
solutions to customers worldwide. Motive power batteries and
chargers are utilized in electric forklift trucks and other
commercial electric powered vehicles. Reserve power batteries
are used in the telecommunication and utility industries,
uninterruptible power supplies, and numerous applications requiring
stored energy solutions including medical, aerospace and defense
systems. Outdoor equipment enclosure products are utilized in
the telecommunication, cable, utility, transportation
industries and by government and defense customers. The
company also provides aftermarket and customer support services to
its customers from over 100 countries through its sales and
manufacturing locations around the world.
More information regarding EnerSys can be found at
www.enersys.com.
Caution Concerning Forward-Looking Statements This press
release, and oral statements made regarding the subjects of this
release, contains forward-looking statements, within the meaning of
the Private Securities Litigation Reform Act of 1995, or the Reform
Act, which may include, but are not limited to, statements
regarding EnerSys’ earnings estimates, intention to return capital
to stockholders, plans, objectives, expectations and intentions and
other statements contained in this press release that are not
historical facts, including statements identified by words such as
“believe,” “plan,” “seek,” “expect,” “intend,” “estimate,”
“anticipate,” “will,” and similar expressions. All statements
addressing operating performance, events, or developments that
EnerSys expects or anticipates will occur in the future, including
statements relating to sales growth, earnings or earnings per share
growth, its intention to pay quarterly cash dividends and return
capital to stockholders, execution of its stock repurchase program,
and market share, as well as statements expressing optimism or
pessimism about future operating results or benefits from either
its cash dividend or its stock repurchase programs, are
forward-looking statements within the meaning of the Reform Act.
The forward-looking statements are based on management’s current
views and assumptions regarding future events and operating
performance, and are inherently subject to significant business,
economic, and competitive uncertainties and contingencies and
changes in circumstances, many of which are beyond EnerSys’
control. The statements in this press release are made as of the
date of this press release, even if subsequently made available by
EnerSys on its website or otherwise. EnerSys does not undertake any
obligation to update or revise these statements to reflect events
or circumstances occurring after the date of this press
release.
Although EnerSys does not make forward-looking statements unless
it believes it has a reasonable basis for doing so, EnerSys cannot
guarantee their accuracy. For a list of other factors which could
affect EnerSys’ results, including earnings estimates, see EnerSys’
filings with the Securities and Exchange Commission, including
“Item 7. Management's Discussion and Analysis of Financial
Condition and Results of Operations,” including “Forward-Looking
Statements,” set forth in EnerSys’ Annual Report on Form 10-K for
the fiscal year ended March 31, 2017. The foregoing factors, among
others, could cause actual results to differ materially from those
described in these forward-looking statements. No undue reliance
should be placed on any forward-looking statements.
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