BERWYN, Pa., Feb. 12, 2020 /PRNewswire/ -- AMETEK, Inc. (NYSE:
AME) today announced its Board of Directors has approved a 29%
increase in its quarterly cash dividend on common stock to
$0.18 per share from $0.14 per share. The dividend is payable on
March 31, 2020 to shareholders of
record as of March 13, 2020. This dividend increase will raise
the indicated annual rate to $0.72
per share.
"AMETEK's portfolio of highly differentiated businesses
continues to deliver outstanding operating performance and cash
flow generation," said David A.
Zapico, AMETEK Chairman and Chief Executive Officer. "These
results are driven by the strength of the AMETEK Growth Model. We
are focused on deploying our free cash flow primarily on strategic
acquisitions, driving long-term shareholder value. Our robust cash
flow also allows us to reward our shareholders with a higher cash
dividend."
Corporate Profile
AMETEK is a leading
global manufacturer of electronic instruments and
electromechanical devices with annual sales of approximately
$5.0 billion. The AMETEK Growth Model
integrates the Four Growth Strategies - Operational Excellence, New
Product Development, Global and Market Expansion, and Strategic
Acquisitions - with a disciplined focus on cash generation and
capital deployment. 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.
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, including supply chain disruptions; 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.