Allison Transmission Announces a 9% Increase to the Quarterly Dividend and the Annual Stockholders Meeting and Record Date
21 Febbraio 2024 - 10:05PM
Business Wire
Allison Transmission Holdings Inc. (NYSE: ALSN), a leading
designer and manufacturer of conventional and electrified vehicle
propulsion solutions and the largest global manufacturer of medium-
and heavy-duty fully automatic transmissions for commercial and
defense vehicles, announced today that its Board of Directors has
approved an increase in the Company’s quarterly dividend from $0.23
to $0.25 per share on the Company’s common stock and has declared a
cash dividend of $0.25 per share on the Company’s common stock for
the first quarter of 2024. Payment will be made on March 15, to
stockholders of record at the close of business on March 4.
“For the fifth consecutive year, Allison’s Board of Directors
has approved an increase to the quarterly dividend, demonstrating
once again our unwavering commitment to prudent balance sheet
management and capital allocation,” said Fred Bohley, Senior Vice
President, Chief Financial Officer and Treasurer at Allison. “The
consistent return of capital to shareholders, while simultaneously
investing across the organization, is supported by Allison’s strong
financial performance, as well as our disciplined and well-defined
approach to the capital structure.”
The payment of any future dividends will be at the discretion of
the Board of Directors and will be dependent upon Allison
Transmission’s financial position, results of operations, available
cash, cash flow, capital requirements and other factors deemed
relevant by the Board of Directors.
The Company also announced today that its 2024 annual meeting of
stockholders will be held on May 8. The record date for the meeting
will be March 11.
About Allison Transmission
Allison Transmission (NYSE: ALSN) is a leading designer and
manufacturer of vehicle propulsion solutions for commercial and
defense vehicles, the largest global manufacturer of medium- and
heavy-duty fully automatic transmissions, and a leader in
electrified propulsion systems that Improve the Way the World
Works. Allison products are used in a wide variety of applications,
including on-highway trucks (distribution, refuse, construction,
fire and emergency), buses (school, transit and coach), motorhomes,
off-highway vehicles and equipment (energy, mining and construction
applications) and defense vehicles (tactical wheeled and tracked).
Founded in 1915, the company is headquartered in Indianapolis,
Indiana, USA. With a presence in more than 150 countries, Allison
has regional headquarters in the Netherlands, China and Brazil,
manufacturing facilities in the USA, Hungary and India, as well as
global engineering resources, including electrification engineering
centers in Indianapolis, Indiana, Auburn Hills, Michigan and London
in the United Kingdom. Allison also has approximately 1,600
independent distributor and dealer locations worldwide. For more
information, visit allisontransmission.com.
Forward-Looking Statements
This press release contains forward-looking statements. The
words “believe,” “expect,” “anticipate,” “intend,” “estimate” and
other expressions that are predictions of or indicate future events
and trends and that do not relate to historical matters identify
forward-looking statements. You should not place undue reliance on
these forward-looking statements. Although forward-looking
statements reflect management’s good faith beliefs, reliance should
not be placed on forward-looking statements because they involve
known and unknown risks, uncertainties and other factors, which may
cause actual results, performance or achievements to differ
materially from anticipated future results, performance or
achievements expressed or implied by such forward-looking
statements. Forward-looking statements speak only as of the date
the statements are made. We undertake no obligation to publicly
update or revise any forward-looking statement, whether as a result
of new information, future events, changed circumstances or
otherwise. These forward-looking statements are subject to numerous
risks and uncertainties, including, but not limited to: our
participation in markets that are competitive; our ability to
prepare for, respond to and successfully achieve our objectives
relating to technological and market developments, competitive
threats and changing customer needs, including with respect to
electric hybrid and fully electric commercial vehicles; increases
in cost, disruption of supply or shortage of labor, freight, raw
materials, energy or components used to manufacture or transport
our products or those of our customers or suppliers, including as a
result of geopolitical risks, wars and pandemics; global economic
volatility; general economic and industry conditions, including the
risk of recession; labor strikes, work stoppages or similar labor
disputes, which could significantly disrupt our operations or those
of our principal customers or suppliers; the highly cyclical
industries in which certain of our end users operate; uncertainty
in the global regulatory and business environments in which we
operate; the concentration of our net sales in our top five
customers and the loss of any one of these; the failure of markets
outside North America to increase adoption of fully automatic
transmissions; the success of our research and development efforts,
the outcome of which is uncertain; U.S. and foreign defense
spending; risks associated with our international operations,
including acts of war and increased trade protectionism; the
discovery of defects in our products, resulting in delays in new
model launches, recall campaigns and/or increased warranty costs
and reduction in future sales or damage to our brand and
reputation; our ability to identify, consummate and effectively
integrate acquisitions and collaborations; risks related to our
indebtedness; and other risks and uncertainties associated with our
business described in our Annual Report on Form 10-K and Quarterly
Reports on Form 10-Q. Although we believe the expectations
reflected in such forward-looking statements are based upon
reasonable assumptions, we can give no assurance that the
expectations will be attained or that any deviation will not be
material. All information is as of the date of this press release,
and we undertake no obligation to update any forward-looking
statement to conform the statement to actual results or changes in
expectations and risks related to our indebtedness.
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version on businesswire.com: https://www.businesswire.com/news/home/20240221015753/en/
Jackie Bolles Executive Director, Treasury and Investor
Relations ir@allisontransmission.com (317) 242-7073
Media Relations media@allisontransmission.com
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