Gentex Announces Second Quarter 2023 Cash Dividend
31 Maio 2023 - 9:00AM
Gentex Corporation (NASDAQ: GNTX), the Zeeland, Michigan-based
supplier of digital vision, connected car, dimmable glass, and fire
protection technologies, today announced that its Board of
Directors recently declared a quarterly cash dividend of $0.12 (12
cents) per share that will be payable July 19, 2023, to
shareholders of record of the common stock at the close of business
on July 7, 2023.
“Overall, our capital allocation strategy is focused on enabling
the company’s growth by efficiently utilizing the free cash flow we
generate,” said Kevin Nash, Gentex Corporation’s Chief Financial
Officer. “Typically this means we start with funding capital
expenditures and R&D, and then we utilize the balance for
funding our M&A strategy, our share repurchase plan, and our
dividend. With this approach, we believe we are providing
shareholders with a robust, patient, tactical use of capital that
will help us achieve Gentex’s long term growth targets.”
About the CompanyFounded in 1974, Gentex
Corporation (The NASDAQ Global Select Market: GNTX) is a supplier
of automatic-dimming rearview mirrors and electronics to the
automotive industry, dimmable aircraft windows for aviation
markets, and fire protection products to the fire protection
market. Visit the Company’s websites at www.gentex.com,
fulldisplaymirror.com, and gentextech.com.
Safe Harbor for Forward-Looking StatementsThis
news release contains forward-looking statements within the meaning
of the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. The statements contained in this communication
that are not purely historical are forward-looking statements.
Forward-looking statements give the Company’s current expectations
or forecasts of future events. These forward-looking statements
generally can be identified by the use of words such as
“anticipate,” “believe,” “could,” “estimate,” “expect,” “forecast,”
“future,” “goal,” “guidance,” “hope,” “intend,” “may,” “opinion,”
“optimistic,” “plan,” “poised,” “predict,” “project,” “should,”
“strategy,” “target,” “will,” "work to," and variations of such
words and similar expressions. Such statements are subject to risks
and uncertainties that are often difficult to predict and beyond
the Company’s control, and could cause the Company’s results to
differ materially from those described. These risks and
uncertainties include, without limitation: changes in general
industry or regional market conditions, including the impact of
inflation; changes in consumer and customer preferences for our
products (such as cameras replacing mirrors and/or autonomous
driving); our ability to be awarded new business; continued
uncertainty in pricing negotiations with customers and suppliers;
loss of business from increased competition; changes in strategic
relationships; customer bankruptcies or divestiture of customer
brands; fluctuation in vehicle production schedules (including the
impact of customer employee strikes); changes in product mix; raw
material and other supply shortages; labor shortages, supply chain
constraints and disruptions; our dependence on information systems;
higher raw material, fuel, energy and other costs; unfavorable
fluctuations in currencies or interest rates in the regions in
which we operate; costs or difficulties related to the integration
and/or ability to maximize the value of any new or acquired
technologies and businesses; changes in regulatory conditions;
warranty and recall claims and other litigation and customer
reactions thereto; possible adverse results of pending or future
litigation or infringement claims; changes in tax laws; import and
export duty and tariff rates in or with the countries with which we
conduct business; negative impact of any governmental
investigations and associated litigation including securities
litigation relating to the conduct of our business; and the length
and severity of the COVID-19 (coronavirus) pandemic, including its
impact across our business on demand, operations, and the global
supply chain. Readers are cautioned not to place undue reliance on
these forward-looking statements, which speak only as of the date
they are made.
The Company undertakes no obligation to publicly update or
revise any forward-looking statement, whether as a result of new
information, future events or otherwise, except as required by law
or the rules of the NASDAQ Global Select Market. Accordingly, any
forward-looking statement should be read in conjunction with the
additional information about risks and uncertainties identified
under the heading “Risk Factors” in the Company’s latest Form 10-K
and Form 10-Q filed with the SEC, which risks and uncertainties
include the impacts of COVID-19 (coronavirus) pandemic and supply
chain constraints that have affected, are affecting, and will
continue to affect, general economic and industry conditions,
customers, suppliers, and the regulatory environment in which the
Company operates. Includes content supplied by S&P Global
Mobility Light Vehicle Production Forecast of April 19, 2023
(http://www.gentex.com/forecast-disclaimer).
Contact InformationGentex Investor
Relations616-772-1590 x5814
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