This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Wabtec Increases Dividend; Shareholders Approve Company Proposals At Annual Meeting

WILMERDING, Pa., May 16, 2012 /PRNewswire/ -- Wabtec Corporation (NYSE: WAB) today increased its regular quarterly dividend to 5 cents per share, from 3 cents per share.  The new dividend rate will be payable initially Aug. 31, 2012 to shareholders of record Aug. 17, 2012.

Albert J. Neupaver, Wabtec's president and chief executive officer, said:  "With our current financial performance and future outlook, we have ample financial strength to continue to invest in growth opportunities and return a portion of our cash flow to shareholders.  We intend to review our policies periodically and adjust them based on Wabtec's ongoing performance and prospects."

Also today, at the company's annual meeting in Pittsburgh Wabtec shareholders elected four directors and approved other company proposals.  Directors elected were:  Brian P. Hehir, Michael W.D. Howell, Nickolas W. Vande Steeg and Gary C. Valade.

In addition, shareholders ratified the appointment of Ernst & Young LLP as the company's independent registered public accounting firm for the 2012 fiscal year and approved a non-binding proposal relating to executive compensation.

Wabtec Corporation is a global provider of value-added, technology-based products and services for rail and industrial markets. Through its subsidiaries, the company manufactures a range of products for locomotives, freight cars and passenger transit vehicles. The company also builds new switcher and commuter locomotives, and provides aftermarket services. The company has facilities located throughout the world.

SOURCE Wabtec Corporation

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,009.31 -25.62 -0.14%
S&P 500 2,104.03 +3.63 0.17%
NASDAQ 5,019.7440 +25.1420 0.50%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs