ABM Industries Hikes Dividend By 12.8%

by Shivani Kumaresan, Benzinga Staff Writer

December 5, 2022 1:25 PM | 1 min read |

ABM Industries Inc ABM Board of Directors has approved a quarterly cash dividend of $0.22 per common share.
The new dividend represents a 12.8% increase from the prior quarterly cash dividend of $0.195 per share.
The dividend is payable on February 6, 2023, to shareholders of record on January 5, 2023.
This will be the company's 227th consecutive quarterly cash dividend.
“The increase also represents a jumpstart of ABM's plan to grow its dividend payout ratio to a range of 30% to 35% of adjusted net income over the long term,” said board chairman Sudhakar Kesavan.
The company held $63.9 million in cash and equivalents as of July 31, 2022.
Price Action: ABM shares are trading lower by 1.62% at $45.54 on the last check Monday.
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