Media Inquiries – Mark A. Petrarca
Analyst Investor Inquiries – Craig Watson
Both of A. O. Smith Corporation
MILWAUKEE, July 10 /PRNewswire-FirstCall/ — Directors of A. O. Smith Corporation today announced a six percent increase in the company’s quarterly cash dividend to a rate of $.18 per share.
The increased dividend will apply to both Common Stock and Class A Common Stock and is payable on Aug. 15 to shareholders of record July 31.
This is the fifth time in the last six years that the company has increased its quarterly dividend and follows last year’s record-setting net earnings of $2.47 per share.
“We are pleased to be able to share the results of the company’s improved performance with our stockholders,” Chairman and Chief Executive Officer Paul W. Jones said. “We remain committed to improving our company’s profitability and returns so that our stockholders may realize the value of their investment in A. O. Smith.”
“The company has a well-defined vision and strategy, complemented by an ongoing focus on margin improvement that does not lose sight of our long-term objective to continue to grow the business,” Jones continued. “These factors provide us with a great deal of confidence as we look ahead to the remainder of this year and the foreseeable future.”
A. O. Smith Corporation, with headquarters in Milwaukee, Wis., is a diversified manufacturer serving customers worldwide. The company is one of the world’s leading manufacturers and marketers of residential and commercial water heating equipment, offering a comprehensive line featuring the best-known brands in the industry. It is also one of North America’s largest manufacturers of electric motors, with an extensive line of hermetic, fractional horsepower, and integral horsepower motors for residential, commercial, and industrial applications.
Founded in 1874, A. O. Smith employs approximately 19,500 people at facilities in the United States, Mexico, China, Canada, and Europe. Additional information on A. O. Smith Corporation and its products may be found at http://www.aosmith.com