MILWAUKEE, Oct. 12, 2020 /PRNewswire/ -- Directors of
A. O. Smith Corporation (NYSE: AOS) today approved an eight percent
increase in the company's quarterly cash dividend rate to
$0.26 per share. The dividend
increase affects the company's Common Stock and Class A Common
Stock.
The dividend is payable on November
16 to shareholders of record October
30.
"A. O. Smith values its shareholders and works hard to ensure
they are rewarded for investing in our company," said Kevin Wheeler, chairman and chief executive
officer. "We are proud to say the five-year compound annual growth
rate of our dividend rate is more than 22 percent."
Forward-looking statements
This release contains statements that the Company believes are
"forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995. Forward-looking
statements generally can be identified by the use of words such as
"may," "will," "expect," "intend," "estimate," "anticipate,"
"believe," "forecast," "continue," "guidance" or words of similar
meaning. All forward-looking statements are subject to risks and
uncertainties that could cause actual results to differ materially
from those anticipated as of the date of this release. Important
factors that could cause actual results to differ materially from
these expectations include, among other things, the following:
negative impacts to the Company's business, including demand for
its products, operations and work-force dislocation and disruption,
supply chain disruption and liquidity as a result of the severity
and duration of the COVID-19 pandemic; a failure to recover or a
further weakening of the Chinese economy and/or a failure to
recover or a further decline in the growth rate of consumer
spending or housing sales in China; negative impact to the Company's
businesses from international tariffs and trade disputes; potential
further weakening in the high efficiency boiler segment in the
U.S.; significant volatility in raw material availability and
prices; inability of the Company to implement or maintain pricing
actions; a failure to recover or further weakening in U.S.
residential or commercial construction or instability in the
Company's replacement markets; foreign currency fluctuations; the
Company's inability to successfully integrate or achieve its
strategic objectives resulting from acquisitions; competitive
pressures on the Company's businesses; the impact of potential
information technology or data security breaches; changes in
government regulations or regulatory requirements; and adverse
developments in general economic, political and business conditions
in key regions of the world. Forward-looking statements included in
this news release are made only as of the date of this release, and
the Company is under no obligation to update these statements to
reflect subsequent events or circumstances. All subsequent written
and oral forward-looking statements attributed to the Company, or
persons acting on its behalf, are qualified entirely by these
cautionary statements.
About A. O. Smith
A. O. Smith Corporation, with headquarters in Milwaukee, Wis., is a global leader applying
innovative technology and energy-efficient solutions to products
manufactured and marketed worldwide. Listed on the New York Stock
Exchange (NYSE), the company is one of the world's leading
manufacturers of residential and commercial water heating equipment
and boilers, as well as a manufacturer of water treatment and air
purification products. For more information visit
www.aosmith.com.
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SOURCE A. O. Smith Corporation