Argan, Inc. (NYSE: AGX) today announced that its Board of Directors
declared a regular cash dividend in the amount of $0.70 per share of
common stock, payable November 5, 2015 to shareholders of record at the
close of business on October 15, 2015. Rainer Bosselmann, Chairman and
Chief Executive Officer, commented, “Argan is pleased to announce the
payment of a regular cash dividend of $0.70 per share of common stock
for the fiscal year ending 2016. Gemma Power Systems continues to
successfully execute the Panda projects in Pennsylvania.”
The Argan, Inc. Board of Directors, by moving from a special cash
dividend to a regular cash dividend reaffirms its strong support of our
successful operations and its desire to share Argan’s economic success
with its shareholders. The Board will continue to evaluate Argan, Inc.’s
ongoing financial and operational performance in determining the amount
and timing of future dividends to ensure they are strategically aligned
to enhance shareholder value.
About Argan, Inc.
Argan’s primary business is providing services to the power industry
with a full range of engineering, procurement, construction,
commissioning, operations management, maintenance and development and
consulting through its subsidiaries Gemma Power Systems and Atlantic
Projects Company. Argan also owns Southern Maryland Cable, Inc., which
provides telecommunications infrastructure services.
Certain matters discussed in this press release may constitute
forward-looking statements within the meaning of the federal securities
laws and are subject to risks and uncertainties including, but not
limited to: (1) the Company’s ability to achieve its business strategy
while effectively managing costs and expenses; (2) the Company’s ability
to successfully and profitably integrate acquisitions; and (3) the
continued strong performance of our power industry services business.
Actual results and the timing of certain events could differ materially
from those projected in or contemplated by the forward-looking
statements due to a number of factors detailed from time to time in
Argan’s filings with the Securities and Exchange Commission. In
addition, reference is hereby made to cautionary statements with respect
to risk factors set forth in the Company’s most recent reports on Form
10-K and 10-Q, and other SEC filings.
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