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A. O. Smith Corporation announces 26 percent dividend increase
The dividend increase will affect the company's Common Stock and Class A Common Stock and is payable on
Over the last five years, the company's quarterly dividend has grown at a compounded annual rate of 26 percent. This is the 11th consecutive year the
"Our businesses have achieved solid performance over the past several years,"
"With a robust balance sheet, a strong cash position, and adequate borrowing capacity, we believe strongly that we are able to increase our dividend while continuing to support organic growth and pursue global growth opportunities and strategic acquisitions."
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," "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: uncertain costs, savings and timeframes associated with the implementation of the new enterprise resource planning system; a further slowdown in the growth rate of the Chinese economy; potential
weakening in the high efficiency boiler market segment in the
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