The Board of Directors of Apogee Enterprises, Inc. has declared a quarterly cash dividend of $0.125 per share, payable on February 17, 2016.
The dividend of $0.125 per share, payable to shareholders of record on February 2, 2016, represents an increase of 14 percent from the previous quarterly dividend of $0.11 per share. The company has approximately 28.9 million shares outstanding.
The Board of Directors also increased its existing share repurchase authorization by 1 million shares, bringing the total available share repurchase program to approximately 1.4 million shares.
“Increasing our dividend underscores our confidence in our ability to continue to grow revenues, earnings and cash flow over our strategic plan horizon,” said Joseph F. Puishys, Apogee chief executive officer. “The increase in share repurchase authorization positions us to continue to occasionally buy back stock to offset dilution from our stock compensation programs.”