The Board of Directors of Apogee Enterprises, Inc. (Nasdaq: APOG)
announced it has declared a quarterly cash dividend of $0.10 per share,
payable on February 21, 2014, to shareholders of record on February 6,
2014. The dividend of $0.10 per share represents an increase of 11
percent from the previous quarterly dividend of $0.09 per share. The
company has approximately 28.9 million shares outstanding.
“We feel good about Apogee’s positive momentum as we grow revenues and
earnings, and are demonstrating our confidence in the company’s future
opportunities and performance with this increase in our dividend,” said
Joseph F. Puishys, Apogee chief executive officer.
Apogee Enterprises, Inc. (www.apog.com),
headquartered in Minneapolis, is a leader in technologies involving the
design and development of value-added glass products, services and
systems for the architectural and picture framing industries.
FORWARD-LOOKING STATEMENTS
The discussion above contains “forward-looking statements” within the
meaning of the Private Securities Litigation Reform Act of 1995. These
statements reflect Apogee management’s expectations or beliefs as of the
date of this release. The company undertakes no obligation to publicly
update or revise any forward-looking statements, whether as a result of
new information, future events or otherwise. All forward-looking
statements are qualified by factors that may affect the operating
results of the company, including the following: (A) operational risks:
i) the cyclical nature and market conditions of the North American and
Latin American commercial construction industries, which impact our
three architectural segments; ii) consumer confidence and the conditions
of the U.S. economy, which impact our large-scale optical segment; iii)
actions of competitors or new market entrants; iv) ability to fully and
efficiently utilize production capacity; v) product performance,
reliability, execution or quality problems; vi) installation project
management issues that could result in losses on individual contracts;
vii) changes in consumer and customer preference, or architectural
trends and building codes; and viii) dependence on a relatively small
number of customers in certain business segments; (B) financial risks:
i) revenue and operating results that are volatile; and ii) financial
market disruption, which could impact company, customer and supplier
credit availability; (C) self-insurance risk related to a material
product liability or other event for which the company is liable; (D)
cost of compliance with environmental regulations; (E) potential impact
on financial results if one or more senior executives were no longer
active with the company; and (F) integration of two recent acquisitions.
The company cautions investors that actual future results could differ
materially from those described in the forward-looking statements, and
that other factors may in the future prove to be important in affecting
the company’s results of operations. New factors emerge from time to
time and it is not possible for management to predict all such factors,
nor can it assess the impact of each such factor on the business or the
extent to which any factor, or a combination of factors, may cause
actual results to differ materially from those contained in any
forward-looking statements. For a more detailed explanation of the
foregoing and other risks and uncertainties, see Item 1A of the
company’s Annual Report on Form 10-K for the fiscal year ended March 2,
2013.
Copyright Business Wire 2014