Columbus McKinnon : Declares Quarterly Dividend of $0.04 per Share
January 23, 2017 at 04:20 pm
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AMHERST, N.Y., January 23, 2017 - Columbus McKinnon Corporation (NASDAQ: CMCO), a leading designer, manufacturer and marketer of material handling products, technologies and services, today announced that its Board of Directors has approved payment of a regular quarterly dividend of $0.04 per common share. The dividend will be payable on or about February 20, 2017 to shareholders of record at the close of business on February 10, 2017. Columbus McKinnon currently has approximately 20.2 million common shares outstanding. The number of shares outstanding is expected to increase by 2.3 million shares as a result of the previously announced equity offering to finance the STAHL CraneSystems acquisition.
About Columbus McKinnon
Columbus McKinnon is a leading worldwide designer, manufacturer and marketer of material handling products, technologies, systems and services, which efficiently and ergonomically move, lift, position and secure materials and people. Key products include hoists, cranes, actuators, rigging tools, light rail work stations and digital power and motion control systems. The Company is focused on commercial and industrial applications that require the safety and quality provided by its superior design and engineering know-how.
Safe Harbor Statement
This news release contains 'forward-looking statements' within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements concerning future revenue and earnings, involve known and unknown risks, uncertainties and other factors that could cause the actual results of the Company to differ materially from the results expressed or implied by such statements, including general economic and business conditions, conditions affecting the industries served by the Company and its subsidiaries, conditions affecting the Company's customers and suppliers, competitor responses to the Company's products and services, the overall market acceptance of such products and services, the effect of operating leverage, the pace of bookings relative to shipments, the ability to expand into new markets and geographic regions, the success in acquiring new business, the speed at which shipments improve, and other factors disclosed in the Company's periodic reports filed with the Securities and Exchange Commission. The Company assumes no obligation to update the forward-looking information contained in this release.
Columbus McKinnon Corporation published this content on 23 January 2017 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 23 January 2017 21:20:11 UTC.
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Columbus McKinnon Corporation is a designer, manufacturer and marketer of intelligent motion solutions for material handling. Its products include a variety of electric, air-powered, lever, and hand hoists, hoist trolleys, explosion-protected hoists, winches, and aluminum work stations; alloy and carbon steel chain; forged attachments, such as hooks, shackles, textile slings, clamps, and load binders; mechanical and electromechanical actuators and rotary unions; below-the-hook special purpose lifters; and power and motion control systems, such as alternate current (AC) and direct current (DC) drive systems, radio remote controls, push button pendant stations, brakes, and collision avoidance and power delivery subsystems. Its brands include Budgit, Chester, CM, Coffing, Little Mule, Pfaff, Shaw-Box, STAHL, Yale, Magnetek and Herc-Alloy. Its targeted market verticals include manufacturing, transportation including EV production and aerospace, energy and utilities, and process industries.