ParkOhio Announces Quarterly Dividend
January 26 2024 - 3:28PM
Business Wire
The Board of Directors of Park-Ohio Holdings Corp. (NASDAQ:
PKOH) has declared a quarterly cash dividend of $0.125 per share on
the common stock outstanding, to be paid on February 23, 2024, to
shareholders of record as of the close of business on February 9,
2024.
ParkOhio is a diversified international company providing
world-class customers with a supply chain management outsourcing
service, capital equipment used on their production lines, and
manufactured components used to assemble their products.
Headquartered in Cleveland, Ohio, ParkOhio operates more than 130
manufacturing sites and supply chain logistics facilities
worldwide, through three reportable segments: Supply Technologies,
Assembly Components and Engineered Products.
This news release contains forward-looking statements, including
statements regarding future performance of the Company, that are
subject to known and unknown risks, uncertainties and other factors
that may cause our actual results, performance and achievements, or
industry results, to be materially different from any future
results, performance or achievements expressed or implied by such
forward-looking statements. These factors that could cause actual
results to differ materially from expectations include, but are not
limited to, the following: our ability to realize any contingent
consideration from the sale of the Aluminum Products business; the
impact supply chain issues such as the global semiconductor
micro-chip shortage and logistic issues have on our business,
results of operations, financial position and liquidity; our
substantial indebtedness; the uncertainty of the global economic
environment; general business conditions and competitive factors,
including pricing pressures and product innovation; demand for our
products and services; the impact of labor disturbances affecting
our customers; raw material availability and pricing; fluctuations
in energy costs; component part availability and pricing; changes
in our relationships with customers and suppliers; the financial
condition of our customers, including the impact of any
bankruptcies; our ability to successfully integrate recent and
future acquisitions into existing operations; the amounts and
timing, if any, of purchases of our common stock; changes in
general economic conditions such as inflation rates, interest
rates, tax rates, unemployment rates, higher labor and healthcare
costs, recessions and changing government policies, laws and
regulations, including those related to the current global
uncertainties and crises, such as tariffs and surcharges; adverse
impacts to us, our suppliers and customers from acts of terrorism
or hostilities, including the conflicts between Russia and Ukraine
and in the Middle East, or political unrest, including the rising
tension between China and the United States; public health issues,
including the outbreak of infectious diseases and any impact on our
facilities and operations and our customers and suppliers; our
ability to meet various covenants, including financial covenants,
contained in the agreements governing our indebtedness;
disruptions, uncertainties or volatility in the credit markets that
may limit our access to capital; potential disruption due to a
partial or complete reconfiguration of the European Union;
increasingly stringent domestic and foreign governmental
regulations, including those affecting the environment or import
and export controls and other trade barriers; inherent
uncertainties involved in assessing our potential liability for
environmental remediation-related activities; the outcome of
pending and future litigation and other claims and disputes with
customers; our dependence on the automotive and heavy-duty truck
industries, which are highly cyclical; the dependence of the
automotive industry on consumer spending; our ability to negotiate
contracts with labor unions; our dependence on key management; our
dependence on information systems; our ability to continue to pay
cash dividends, and the timing and amount of any such dividends;
and the other factors we describe under “Item 1A. Risk Factors”
included in the Company’s Annual Report on Form 10-K for the year
ended December 31, 2022. Any forward-looking statement speaks only
as of the date on which such statement is made, and we undertake no
obligation to update any forward-looking statement, whether as a
result of new information, future events or otherwise, except as
required by law. In light of these and other uncertainties, the
inclusion of a forward-looking statement herein should not be
regarded as a representation by us that our plans and objectives
will be achieved. The Company assumes no obligation to update the
information in this release.
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version on businesswire.com: https://www.businesswire.com/news/home/20240126280019/en/
MATTHEW V. CRAWFORD PARK-OHIO HOLDINGS CORP. (440) 947-2000
Park Ohio (NASDAQ:PKOH)
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