Discover the Latest News: Advanced Drainage Systems, Inc. Boosts Dividend by 17% for Shareholders
Advanced Drainage Systems, Inc. (ADS), a prominent provider of innovative water management solutions in the stormwater and on-site septic waste water industries, has made a significant announcement for its shareholders. The company's Board of Directors has approved a substantial 17% increase in the quarterly cash dividend, demonstrating its commitment to rewarding investors.
The Board of Directors of ADS has approved a quarterly cash dividend of $0.14 per share, showcasing a noteworthy 17% increase compared to the previous year's dividend amount. This decision comes as a testament to the company's robust balance sheet, impressive cash generation, and unwavering dedication to delivering value to its shareholders.
Scott Barbour, the President, and Chief Executive Officer of Advanced Drainage Systems expressed confidence in the company's financial performance and operational excellence initiatives. These factors, combined with the strong balance sheet, have provided the necessary financial flexibility to return excess cash to shareholders. The dividend increase serves as a demonstration of ADS's commitment to optimizing shareholder value.
Despite the generous dividend increase, ADS remains committed to strategically investing in its business. The company understands the importance of continuous innovation and improvement to maintain its leading position in the water management solutions industry. By striking a balance between rewarding shareholders and investing in growth, ADS sets a strong foundation for future success.
The enhanced quarterly cash dividend of $0.14 per share will be disbursed to ADS shareholders on September 15, 2023. To be eligible for the dividend payment, investors must hold ADS shares as of September 1, 2023, which is the record date set by the company.
With its recent dividend increase announcement, Advanced Drainage Systems, Inc. demonstrates its commitment to shareholders and showcases its financial strength. The company's ability to generate substantial cash flow and maintain operational excellence positions it for sustainable growth while continuing to deliver value to its investors. ADS shareholders can look forward to reaping the benefits of this generous dividend increase on September 15, 2023.
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