American Vanguard Corp. (NYSE:AVD) today announced that its Board of Directors has declared a $0.05 cash dividend payment to be distributed on October 18, 2013 to shareholders of record as of October 4, 2013. This will bring total dividend payments for calendar year 2013 to $0.17 per share, a 42% increase over the normal payments distributed in calendar year 2012 (excluding the $0.10 per share special dividend payment made in December 2012).
Eric Wintemute, Chairman and CEO of American Vanguard, stated, “We are pleased to declare this dividend which continues our 20-year history of providing such returns to our shareholders and reflects our belief that increasing shareholder value is of prime importance to the Company’s management and its Board of Directors. We continue to maintain a disciplined approach to our equity base and earlier this year we instituted a share repurchase program with the intent of maintaining the current level of outstanding shares. These steps demonstrate the confidence that management and the Board of Directors have in the Company’s future and we appreciate our investors’ continued support as we pursue profitable growth in the crop protection and public health markets worldwide.”
|Historical Cash Dividends|
Notes: A Special Dividend of $0.10 per share was paid in December 2012 and is not included in the 2012 dividend calculation above. The Company revised its dividend payment method from a semi-annual to a quarterly approach beginning in the second half of 2013.
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