Wabtec increases its regular quarterly dividend to 6 cents per share
Source:transportweekly 2014-5-16 10:54:00
Wabtec Corporation, a global provider of value-added, technology-based products and services for rail and industrial markets, increased its regular quarterly dividend to 6 cents per share, from 4 cents per share. The new dividend rate will be payable initially Aug. 29, 2014 to shareholders of record Aug. 15, 2014.
Albert J. Neupaver, Wabtec's chairman and chief executive officer, said: "Our current financial performance and future outlook provides ample financial strength to invest in growth opportunities and to return a greater portion of our cash flow to shareholders. We intend to continue to review our policies periodically based on Wabtec's ongoing performance and growth prospects."
Also today, at the company's annual meeting in Pittsburgh Wabtec shareholders elected three directors and approved other company proposals. Directors elected were: Emilio A. Fernandez, Lee B. Foster II and Gary C. Valade.
In addition, shareholders ratified the appointment of Ernst & Young LLP as the company's independent registered public accounting firm for the 2014 fiscal year and approved a non-binding proposal relating to executive compensation.