TULSA,
Okla., March 5, 2024 /PRNewswire/ -- AAON,
Inc. (NASDAQ: AAON) ("AAON" or the "Company"), today
announced that its Board of Directors has declared the Company's
next regular quarterly cash dividend of $0.08 per share (or $0.32 annually), payable on March 29, 2024 to stockholders of record as of
the close of business on March 18,
2024.
The Company also announced that its Board of Directors has
approved a $25 million increase in
its current share repurchase authorization, bringing the Company's
total current share repurchase authority to $50 million. Repurchases will be made in
accordance with a pre-arranged stock repurchase plan adopted by the
Company pursuant to the guidelines specified under Rule 10b5-1 of
the Securities Exchange Act of 1934, as amended. The actual
timing, number and value of shares repurchased will depend on
market conditions, share price, trading volume, and other
factors.
About AAON
Founded in 1988, AAON is a world leader in
HVAC solutions for commercial and industrial indoor environments.
The Company's industry-leading approach to designing and
manufacturing highly configurable equipment to meet exact needs
creates a premier ownership experience with greater efficiency,
performance and long-term value. AAON is headquartered in
Tulsa, Oklahoma, where its
world-class innovation center and testing lab allows AAON engineers
to continuously push boundaries and advance the industry. For more
information, please visit www.AAON.com.
Forward-Looking Statements
This press release includes
"forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995. Words such as "expects",
"anticipates", "intends", "plans", "believes", "seeks",
"estimates", "should", "will", and variations of such words and
similar expressions are intended to identify such forward-looking
statements. These statements are not guarantees of future
performance and involve certain risks, uncertainties and
assumptions, which are difficult to predict. Therefore, actual
outcomes and results may differ materially from what is expressed
or forecasted in such forward-looking statements. Readers are
cautioned not to place undue reliance on these forward-looking
statements, which speak only as of the date on which they are made.
We undertake no obligations to update publicly any forward-looking
statements, whether as a result of new information, future events
or otherwise. Important factors that could cause results to differ
materially from those in the forward-looking statements include (1)
the timing and extent of changes in raw material and component
prices, (2) the effects of fluctuations in the
commercial/industrial new construction market, (3) the timing and
extent of changes in interest rates, as well as other competitive
factors during the year, and (4) general economic, market or
business conditions.
Contact Information
Joseph
Mondillo
Director of Investor Relations
Phone (617) 877-6346
Email: joseph.mondillo@aaon.com
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SOURCE AAON