SARATOGA SPRINGS, N.Y. - Espey Mfg. & Electronics Corp. (NYSE AMERICAN: ESP), a company specializing in the development, design, and production of military and industrial power supplies and transformers, has announced a 16% increase in its regular quarterly dividend.
The new dividend of $0.175 per share is scheduled to be distributed on March 28, 2024, to shareholders who are on record as of March 22, 2024.
This increase reflects the company's confidence in its financial stability and its commitment to providing value to its shareholders. Espey Mfg. & Electronics Corp. has a history of developing specialized power solutions that cater to the needs of military and industrial clients.
The announcement of the dividend increase is based on a press release statement issued by the company and is a factual representation of the company's current dividend policy. The decision by the Board of Directors to raise the dividend payout is an indication of Espey's financial health and its ability to generate sufficient cash flow.
Investors and shareholders of Espey Mfg. & Electronics Corp. are advised to consider this latest development when assessing the company's performance and prospects. It is important to note that while the company has expressed optimism about its future, any forward-looking statements are subject to various risks and uncertainties that could impact actual results.
Espey's forward-looking statements are made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and are intended to communicate management's expectations about future events as of the date they are made.
The company has cautioned readers not to place undue reliance on these forward-looking statements, as they are based on the information currently available and are subject to change. The actual outcomes could differ materially from those anticipated in the statements due to a range of factors.
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