JBT Corporation Increases Quarterly Dividend 29 Percent
CHICAGO, May 16, 2013 /PRNewswire/ -- JBT Corporation (NYSE: JBT) today announced a 29 percent increase in its quarterly dividend.
The Company's Board of Directors declared its second quarter 2013 cash dividend of $0.09 per share of outstanding common stock. The dividend will be payable on June 11, 2013 to stockholders of record at the close of business on May 28, 2013.
"Today's announcement underscores our confidence that our long-term growth and 4G strategy will continue to create value for our shareholders," said Charlie Cannon, Chairman and Chief Executive Officer. "With our strong balance sheet and sustained ability to generate significant cash flow, we have ample capital to invest in our growth initiatives and also remain committed to returning value to shareholders through both dividends and share repurchases."
Since becoming an independent public company in mid-2008, JBT Corporation has generated approximately $250 million of cash flow from operating activities and has returned over $40 million to shareholders through dividends and share repurchases.
JBT Corporation (NYSE: JBT) is a leading global technology solutions provider to the food processing and air transportation industries. JBT Corporation designs, manufactures, tests and services technologically sophisticated systems and products for regional and multi-national industrial food processing customers through its JBT FoodTech segment and for domestic and international air transportation customers through its JBT AeroTech segment. JBT Corporation employs approximately 3,200 people worldwide and operates sales, service, manufacturing and sourcing operations located in over 25 countries. For more information please visit www.jbtcorporation.com.
This release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements are information of a non-historical nature and are subject to risks and uncertainties that are beyond the Company's ability to control. These risks and uncertainties are described under the caption "Risk Factors" in the Company's Annual Report on Form 10-K filed by the Company with the Securities and Exchange Commission that may be accessed on the Company's website. The Company cautions shareholders and prospective investors that actual results may differ materially from those indicated by the forward-looking statements.
SOURCE JBT Corporation