Valmont increases quarterly dividend 9% to $0.60, authorizes $400M share repurchase

VALMONT INDUSTRIES INC

Dividend increased to $0.60/share quarterly ($2.40 annualized), up 9% from $0.55; payable April 14, 2023 to holders of record March 31, 2023.
Board reauthorized up to $400M in share repurchases, effective after current authorization ($81M remaining as of Dec 31, 2022) is completed; no expiration date.
Company had record financial performance in 2022 with strong cash flow generation, per CEO.
Director Clark T. Randt to retire at April 2023 annual meeting; Ritu Favre moved to class with term expiring 2023 to balance board classes.

item 5.02 item 8.01 item 9.01

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Departed

Clark T. Randt

member of the board of directors

VMI · VALMONT INDUSTRIES INC

Filed: February 28, 2023, 6:59 PM ET

Clark T. Randt, a member of the board of directors of Valmont Industries, Inc., will retire at the company’s 2023 Annual Meeting of Shareholders in April 2023.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Clark T. Randt departed as member of the board of directors at VALMONT INDUSTRIES INC.

Action: retire
Role: member of the board of directors

Exact text from the filing

Clark T. Randt, a member of the board of directors of Valmont Industries, Inc., will retire at the company’s 2023 Annual Meeting of Shareholders in April 2023.

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VALMONT INDUSTRIES INC filing history →

Source: SEC EDGAR

accession 0000102729-23-000016

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