ABM Industries Hikes Dividend By 12.8%

ABM Industries Hikes Dividend By 12.8%
  • ABM Industries Inc ABM Board of Directors has approved a quarterly cash dividend of $0.22 per common share.
  • The new dividend represents a 12.8% increase from the prior quarterly cash dividend of $0.195 per share.
  • The dividend is payable on February 6, 2023, to shareholders of record on January 5, 2023.
  • This will be the company's 227th consecutive quarterly cash dividend.  
  • “The increase also represents a jumpstart of ABM's plan to grow its dividend payout ratio to a range of 30% to 35% of adjusted net income over the long term,” said board chairman Sudhakar Kesavan.
  • The company held $63.9 million in cash and equivalents as of July 31, 2022.
  • Price Action: ABM shares are trading lower by 1.62% at $45.54 on the last check Monday.
  • Photo Via Company

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