BERWYN, Pa., Feb. 1, 2018 /PRNewswire/ -- AMETEK, Inc.
(NYSE: AME) today announced its Board of Directors has
approved a 56% increase in its quarterly cash dividend on common
stock to $0.14 per share from
$0.09 per share. The dividend
is payable on March 29, 2018 to
shareholders of record as of March 16, 2018. This
dividend increase will raise the indicated annual rate to
$0.56 per share.
"AMETEK's businesses continue to operate at a very high level,
delivering outstanding cash flow generation and excellent operating
results," said David A. Zapico,
AMETEK Chairman and Chief Executive Officer. "We remain focused on
delivering double digit earnings growth over the business cycle by
executing our proven Growth Strategies. Our primary use of free
cash flow will be to continue supporting our acquisition strategy,
driving long-term shareholder value. Strong cash flow generation
will enable us to continue funding these strategies, while also
rewarding shareholders with a higher cash dividend."
Corporate Profile
AMETEK is a leading global
manufacturer of electronic instruments and electromechanical
devices with annualized sales of more than $4.5 billion. AMETEK's Corporate Growth Plan is
based on Four Key Strategies: Operational Excellence, Strategic
Acquisitions, Global & Market Expansion and New Products.
AMETEK's objective is double-digit percentage growth in earnings
per share over the business cycle and a superior return on total
capital. The common stock of AMETEK is a component of the S&P
500 Index.
Forward-looking Information
Statements in this news
release relating to future events, such as AMETEK's expected
business and financial performance are "forward-looking
statements." Forward-looking statements are subject to various
factors and uncertainties that may cause actual results to differ
significantly from expectations. These factors and uncertainties
include AMETEK's ability to consummate and successfully integrate
future acquisitions; risks associated with international sales and
operations; AMETEK's ability to successfully develop new products,
open new facilities or transfer product lines; the price and
availability of raw materials; compliance with government
regulations, including environmental regulations; changes in the
competitive environment or the effects of competition in our
markets; the ability to maintain adequate liquidity and financing
sources; and general economic conditions affecting the industries
we serve. A detailed discussion of these and other factors that may
affect our future results is contained in AMETEK's filings with the
U.S. Securities and Exchange Commission, including its most recent
reports on Form 10-K, 10-Q and 8-K. AMETEK disclaims any intention
or obligation to update or revise any forward-looking
statements.
Contact:
AMETEK, Inc.
Kevin Coleman
Vice President, Investor Relations
1100 Cassatt Road
Berwyn, Pennsylvania 19312
kevin.coleman@ametek.com
Phone: 610.889.5247
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SOURCE AMETEK, Inc.