Lindsay Corporation Increases Cash Dividend
OMAHA, Neb.--(BUSINESS WIRE)-- Lindsay Corporation (LNN), a leading provider of irrigation systems and infrastructure products, announced today that its Board of Directors has declared a 28 percent increase in its regular quarterly cash dividend to $0.115 per share, payable August 31, 2012, to shareholders of record on August 17, 2012. The regular quarterly cash dividend was previously $0.09 per share. The new annual indicated rate is $0.46 per share, up from the previous annual indicated rate of $0.36 per share.
Rick Parod, president and chief executive officer, commented, We are pleased to make this adjustment to our dividend rate reflecting increases in our earnings over the last several years. This adjustment should not be viewed as indicative of future dividend increases.
About the Company
Lindsay manufactures and markets irrigation equipment primarily used in agricultural markets which increase or stabilize crop production while conserving water, energy, and labor. The Company also manufactures and markets infrastructure and road safety products through its wholly owned subsidiaries, Barrier Systems Inc. and Snoline S.P.A. At June 25, 2012, Lindsay had approximately 12.7 million shares outstanding, which are traded on the New York Stock Exchange under the symbol LNN.
For more information regarding Lindsay Corporation, see Lindsay's Web site at www.lindsay.com. For more information on the Company's infrastructure products, visit www.barriersystemsinc.com and www.snoline.com.
Concerning Forward-looking Statements
This release contains forward-looking statements that are subject to risks and uncertainties and which reflect managements current beliefs and estimates of future economic circumstances, industry conditions, company performance and financial results. You can find a discussion of many of these risks and uncertainties in the annual, quarterly and current reports that the Company files with the Securities and Exchange Commission. Forward-looking statements include information concerning possible or assumed future results of operations of the Company and those statements preceded by, followed by or including the words anticipate, estimate, believe, intend, "expect," "outlook," "could," "may," "should," will, or similar expressions. For these statements, the Company claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. The Company undertakes no obligation to update any forward-looking information contained in this press release.
Jim Raabe, 402-827-6579
Vice President & Chief Financial Officer
Halliburton Investor Relations:
Hala Elsherbini or Geralyn DeBusk, 972-458-8000
Source: Lindsay CorporationCopyright Business Wire 2012