Moog Announces Cash Dividend
The Board of Directors of Moog Inc. (NYSE: MOG.A and MOG.B) has declared a quarterly dividend of $.25 per share on the Company’s
issued and outstanding shares of Class A common stock and Class B common stock. The dividend will be paid on March 4, 2019 to all
shareholders of record as of the close of business on February 15, 2019.
The dividend represents a use of cash of approximately $9 million. Future declarations of quarterly dividends are subject to the
determination and discretion of Moog’s Board of Directors.
Moog Inc. is a worldwide designer, manufacturer, and integrator of precision control components and systems. Moog’s
high-performance systems control military and commercial aircraft, satellites and space vehicles, launch vehicles, missiles,
automated industrial machinery, marine and medical equipment. Additional information about the company can be found at
www.moog.com.
Cautionary Statement
Information included or incorporated by reference in this report that does not consist of historical facts, including statements
accompanied by or containing words such as “may,” “will,” “should,” “believes,” “expects,” “expected,” “intends,” “plans,”
“projects,” “approximate,” “estimates,” “predicts,” “potential,” “outlook,” “forecast,” “anticipates,” “presume” and “assume,” are
forward-looking statements. Such forward-looking statements are made pursuant to the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. These forward-looking statements reflect the Company’s current views with respect to
certain current and future events and financial performance and are not guarantees of future performance. This includes but is not
limited to, the Company’s expectation and ability to pay a quarterly cash dividend on its common stock in the future, subject to
the determination by the board of directors, and based on an evaluation of company earnings, financial condition and requirements,
business conditions, capital allocation determinations and other factors, risks and uncertainties. The impact or occurrence of
these could cause actual results to differ materially from the expected results described in the forward-looking statements. These
important factors, risks and uncertainties include:
- the markets we serve are cyclical and sensitive to domestic and foreign economic conditions and
events, which may cause our operating results to fluctuate;
- we operate in highly competitive markets with competitors who may have greater resources than we
possess;
- we depend heavily on government contracts that may not be fully funded or may be terminated, and the
failure to receive funding or the termination of one or more of these contracts could reduce our sales and increase our
costs;
- we make estimates in accounting for over time contracts, and changes in these estimates may have
significant impacts on our earnings;
- we enter into fixed-price contracts, which could subject us to losses if we have cost overruns;
- we may not realize the full amounts reflected in our backlog as revenue, which could adversely affect
our future revenue and growth prospects;
- if our subcontractors or suppliers fail to perform their contractual obligations, our prime contract
performance and our ability to obtain future business could be materially and adversely impacted;
- contracting on government programs is subject to significant regulation, including rules related to
bidding, billing and accounting kickbacks and false claims, and any non-compliance could subject us to fines and penalties or
possible debarment;
- the loss of The Boeing Company as a customer or a significant reduction in sales to The Boeing
Company could adversely impact our operating results;
- our new product research and development efforts may not be successful which could reduce our sales
and earnings;
- our inability to adequately enforce and protect our intellectual property or defend against
assertions of infringement could prevent or restrict our ability to compete;
- our business operations may be adversely affected by information systems interruptions, intrusions or
new software implementations;
- our indebtedness and restrictive covenants under our credit facilities could limit our operational
and financial flexibility;
- significant changes in discount rates, rates of return on pension assets, mortality tables and other
factors could adversely affect our earnings and equity and increase our pension funding requirements;
- a write-off of all or part of our goodwill or other intangible assets could adversely affect our
operating results and net worth;
- our sales and earnings may be affected if we cannot identify, acquire or integrate strategic
acquisitions, or if we engage in divesting activities;
- our operations in foreign countries expose us to political and currency risks and adverse changes in
local legal and regulatory environments;
- unforeseen exposure to additional income tax liabilities may affect our operating results;
- government regulations could limit our ability to sell our products outside the United States and
otherwise adversely affect our business;
- the failure or misuse of our products may damage our reputation, necessitate a product recall or
result in claims against us that exceed our insurance coverage, thereby requiring us to pay significant damages;
- we are involved in various legal proceedings, the outcome of which may be unfavorable to us;
- future terror attacks, war, natural disasters or other catastrophic events beyond our control could
negatively impact our business; and
- our operations are subject to environmental laws, and complying with those laws may cause us to incur
significant costs.
These factors are not exhaustive. New factors, risks and uncertainties may emerge from time to time that may affect the
forward-looking statements made herein. Given these factors, risks and uncertainties, investors should not place undue reliance on
forward-looking statements as predictive of future results. We disclaim any obligation to update the forward-looking statements
made in this report.
Ann Marie Luhr
716-687-4225
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