ABM Industries' Board of Directors approved an 18% increase in its quarterly cash dividend, raising it to $0.265 per common share from the prior $0.225. The increased dividend is payable on February 3, 2025, to shareholders of record on January 2, 2025.
This marks the company's 235th consecutive quarterly cash dividend and its 57th consecutive year of raising its annual dividend. This consistent increase demonstrates ABM's commitment to returning capital to shareholders and reflects a resilient business model.
Scott Salmirs, ABM’s President & Chief Executive Officer, stated that this increase positions the company on a solid path to achieve its long-term dividend payout ratio target of around 30% of adjusted net income. The move is an affirmation of ABM's market positioning and its ability to generate cash.
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