Exponent Increases Quarterly Dividend Payment from $0.26 to $0.28 per Share for Q1 2024, Increases Stock Repurchase Authorization to $100 Million
01 Fevereiro 2024 - 6:05PM
Exponent, Inc. (Nasdaq: EXPO) today announced that its Board of
Directors has raised its quarterly dividend from $0.26 to $0.28 per
share of common stock. The quarterly cash dividend of $0.28 per
share of common stock is to be paid on March 22, 2024 to all common
stockholders of record as of March 8, 2024.
Exponent has paid, and expects to continue to pay, quarterly
dividends each year in March, June, September, and December. Future
declarations of quarterly dividends and the establishment of future
record and payment dates are subject to the final determination of
Exponent’s Board of Directors.
“This is the 11th consecutive year of increasing our regular
quarterly cash dividend. Additionally, our Board of Directors
approved an increase of $61.6 million to our current stock
repurchase authorization bringing our total authorization to $100
million, further illustrating their confidence in the business’s
long-term trajectory,” commented Dr. Catherine Corrigan, President
and Chief Executive Officer. “Exponent is proud to execute on our
commitment to delivering long-term value for our shareholders. In
2023, we returned $78.2 million to shareholders through $54.0
million in dividends and $24.2 million in common stock repurchases,
while ending the year with $187.2 million in cash and cash
equivalents.”
About ExponentExponent brings together 90+
technical disciplines and 950+ consultants to help our clients
navigate the increasing complexity of more than a dozen industries,
connecting decades of pioneering work in failure analysis to
develop solutions for a safer, healthier, more sustainable
world.
Exponent’s consultants deliver the highest value by leveraging
multidisciplinary expertise and resources from across Exponent’s
offices in North America, Asia, and Europe. Exponent’s consultants,
laboratories, databases, and computing resources work seamlessly
together around the globe, enabling us to produce the breakthrough
insights needed to help multinational companies, startups, law
firms, insurance companies, governments, and society respond to
incidents and push their products and processes forward.
Exponent may be reached at (888) 656-EXPO, info@exponent.com,
or www.exponent.com.Forward Looking StatementsThis
news release contains, and incorporates by reference, certain
“forward-looking” statements (as such term is defined in the
Private Securities Litigation Reform Act of 1995, and the rules
promulgated pursuant to the Securities Act of 1933, as amended, and
the Securities Exchange Act of 1934, as amended) that are based on
the beliefs of the Company’s management, as well as assumptions
made by and information currently available to the Company’s
management. When used in this document and in the documents
incorporated herein by reference, the words “intend,” “anticipate,”
“believe,” “estimate,” “expect” and similar expressions, as they
relate to the Company or its management, identify such
forward-looking statements. Such statements reflect the current
views of the Company or its management with respect to future
events and are subject to certain risks, uncertainties and
assumptions. Should one or more of these risks or uncertainties
materialize, or should underlying assumptions prove incorrect, the
Company’s actual results, performance, or achievements could differ
materially from those expressed in, or implied by, any such
forward-looking statements. Factors that could cause or contribute
to such material differences include the possibility that the
demand for our services may decline as a result of changes in
generally applicable and industry-specific economic conditions, the
timing of engagements for our services, the effects of competitive
services and pricing, the absence of backlog related to our
business, our ability to attract and retain key employees, the
effect of tort reform and government regulation on our business,
and liabilities resulting from claims made against us. Additional
risks and uncertainties are discussed in our Annual Report on Form
10-K under the heading “Risk Factors” and elsewhere in the report.
The inclusion of such forward-looking information should not be
regarded as a representation by the Company or any other person
that the future events, plans, or expectations contemplated by the
Company will be achieved. The Company undertakes no obligation to
release publicly any updates or revisions to any such
forward-looking statements.
Exponent (NASDAQ:EXPO)
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