Apogee Enterprises increases quarterly dividend

This is Apogee’s ninth consecutive year with a dividend increase

Apogee Enterprises, Inc. announced today that its Board of Directors has declared a quarterly cash dividend of USD 0.22 per share, a ten percent increase from its previous quarterly dividend rate of USD 0.20 per share. The dividend will be payable on February 15, 2022 to shareholders of record at the close of business on January 31, 2022. This marks Apogee’s ninth consecutive year with a dividend increase, during which time the quarterly dividend has more than doubled, from USD 0.09 per share to USD 0.22 per share.

Apogee’s Board also increased the company’s existing share repurchase authorization by 2 million shares, bringing the total available share repurchase program to approximately 2.6 million shares. The company will continue to evaluate future share repurchases, considering cash flow, debt levels, market conditions, and other capital allocation options.

Today’s announcement reflects our growing confidence in Apogee’s strategic direction and the Board’s commitment to delivering shareholder value,” said Ty R. Silberhorn, Chief Executive Officer. “As we outlined in our recent investor day, we intend to pursue a balanced capital allocation strategy, investing in initiatives to drive long-term profitable growth, while also returning cash to shareholders through dividends and share repurchases. This is supported by our consistent cash flow and strong financial position.”