BERWYN, PA — AMETEK, Inc. (NYSE: AME) announced its Board of Directors has approved a 29% increase in its quarterly cash dividend on common stock to $0.18 per share from $0.14 per share.
The dividend is payable on March 31, 2020, to shareholders of record as of March 13, 2020. This dividend increase will raise the indicated annual rate to $0.72 per share.
“AMETEK’s portfolio of highly differentiated businesses continues to deliver outstanding operating performance and cash flow generation,” said David A. Zapico, AMETEK Chairman and Chief Executive Officer. “These results are driven by the strength of the AMETEK Growth Model. We are focused on deploying our free cash flow primarily on strategic acquisitions, driving long-term shareholder value. Our robust cash flow also allows us to reward our shareholders with a higher cash dividend.”
AMETEK is a leading global manufacturer of electronic instruments and electromechanical devices with annual sales of approximately $5.0 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.
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