AMETEK increases quarterly dividend
By Reshma on Feb 12, 2021 | 04:32 AM IST
AMETEK, Inc. (NYSE: AME) today
announced its Board of Directors has approved an 11% increase in its quarterly
cash dividend on common stock to $0.20 per share from $0.18 per share. The
dividend is payable on March 31, 2021 to shareholders of record as of March 15,
2021. This dividend increase will raise the indicated annual rate to $0.80 per
share.
“AMETEK continues to deliver strong
performance through its proven growth model and portfolio of highly
differentiated businesses,” said David A. Zapico, AMETEK Chairman and Chief
Executive Officer. “Our ability to generate strong cash flows enables us to
both invest in our strategic growth initiatives and deploy meaningful capital
on strategic acquisitions, driving long term shareholder value. We remain
focused on deploying our free cash flow primarily on strategic acquisitions,
while also seeking to reward our shareholders with a consistent and growing
dividend.”
Corporate Profile
AMETEK is a leading global manufacturer
of electronic instruments and electromechanical devices with annual sales in
2020 of more than $4.5 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.