Allegion Board Increases Quarterly Dividend by 29%
Business Wire 6-Feb-2019 5:00 PM
Allegion
plc (NYSE:ALLE), a leading global security products and solutions
provider, today announced that its board of directors declared a
quarterly dividend of $0.27 per ordinary share of the company, an
increase of 29 percent.
"Our action reflects Allegion's continued commitment to drive
sustainable shareholder returns," said David D. Petratis, Allegion
chairman, president and CEO. "The large increase in the dividend conveys
our confidence in the company's long-term cash flow prospects. In
addition, this action supports the company's balanced capital allocation
strategy, including organic growth investments, accretive acquisitions
and shareholder distributions. It also shows the board's support of our
plan to return cash to shareholders in the form of dividends above our
annual earnings growth rate."
The dividend is payable on March 29, 2019, to shareholders of record on
March 15, 2019.
About Allegion
Allegion (NYSE:ALLE) is a global pioneer in safety and security, with
leading brands like CISA®, Interflex®, LCN®,
Schlage®, SimonsVoss® and Von Duprin®. Focusing
on security around the door and adjacent areas, Allegion produces a
range of solutions for homes, businesses, schools and other
institutions. Allegion had annual revenues of $2.4 billion in 2017, with
products sold in almost 130 countries.
For more, visit www.allegion.com.
Forward-Looking Statements
This press release contains "forward-looking statements" within the
meaning of the Private Securities Litigation Reform Act of 1995, Section
27A of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934, including statements regarding the company's
financial performance, the company's growth strategy, the company's
capital allocation strategy, the company's tax planning strategies, and
the performance of the markets in which the company operates. These
forward-looking statements generally are identified by the words
"believe," "project," "expect," "anticipate," "estimate," "forecast,"
"outlook," "intend," "strategy," "future," "opportunity," "plan," "may,"
"should," "will," "would," "will be," "will continue," "will likely
result" or the negative thereof or variations thereon or similar
expressions generally intended to identify forward-looking statements.
Forward-looking statements are based on the company's currently
available information and our current assumptions, expectations and
projections about future events. They are subject to future events,
risks and uncertainties - many of which are beyond the company's control
- as well as potentially inaccurate assumptions, that could cause actual
results to differ materially from those in the forward-looking
statements. Further information on these factors and other risks that
may affect the company's business is included in filings it makes with
the Securities and Exchange Commission from time to time, including its
Form 10-K for the year ended Dec. 31, 2017, Form 10-Q for the quarters
ended March 31, 2018, June 30, 2018, and Sept. 30, 2018, and in its
other SEC filings. The company undertakes no obligation to update these
forward-looking statements.
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