Argan, Inc. Announces 2015 Regular Cash Dividend
September 18 2015 - 9:02AM
Business Wire
Argan, Inc. (NYSE: AGX) today announced that its Board of
Directors declared a regular cash dividend in the amount of $0.70
per share of common stock, payable November 5, 2015 to shareholders
of record at the close of business on October 15, 2015. Rainer
Bosselmann, Chairman and Chief Executive Officer, commented, “Argan
is pleased to announce the payment of a regular cash dividend of
$0.70 per share of common stock for the fiscal year ending 2016.
Gemma Power Systems continues to successfully execute the Panda
projects in Pennsylvania.”
The Argan, Inc. Board of Directors, by moving from a special
cash dividend to a regular cash dividend reaffirms its strong
support of our successful operations and its desire to share
Argan’s economic success with its shareholders. The Board will
continue to evaluate Argan, Inc.’s ongoing financial and
operational performance in determining the amount and timing of
future dividends to ensure they are strategically aligned to
enhance shareholder value.
About Argan, Inc.
Argan’s primary business is providing services to the power
industry with a full range of engineering, procurement,
construction, commissioning, operations management, maintenance and
development and consulting through its subsidiaries Gemma Power
Systems and Atlantic Projects Company. Argan also owns Southern
Maryland Cable, Inc., which provides telecommunications
infrastructure services.
Certain matters discussed in this press release may constitute
forward-looking statements within the meaning of the federal
securities laws and are subject to risks and uncertainties
including, but not limited to: (1) the Company’s ability to
achieve its business strategy while effectively managing costs and
expenses; (2) the Company’s ability to successfully and
profitably integrate acquisitions; and (3) the continued
strong performance of our power industry services business. Actual
results and the timing of certain events could differ materially
from those projected in or contemplated by the forward-looking
statements due to a number of factors detailed from time to time in
Argan’s filings with the Securities and Exchange Commission. In
addition, reference is hereby made to cautionary statements with
respect to risk factors set forth in the Company’s most recent
reports on Form 10-K and 10-Q, and other SEC filings.
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version on businesswire.com: http://www.businesswire.com/news/home/20150918005351/en/
Argan, Inc.Company Contact:Rainer Bosselmann,
301-315-0027orInvestor Relations Contact:Cynthia Flanders,
301-315-0027
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