AAON, Inc. (NASDAQ: AAON) has announced its next regular quarterly cash dividend of $0.08 per share (or $0.32 annually), payable on March 29, 2024, to stockholders of record as of the close of business on March 18, 2024. This represents a consistent dividend compared to the previous period.
In addition to the dividend announcement, AAON's board of directors has approved a $25 million increase in its current share repurchase authorization, bringing the company’s total current share repurchase authority to $50 million. This signals a significant increase in the company's commitment to returning value to its shareholders through buybacks.
The share repurchases will be made in accordance with a pre-arranged stock repurchase plan adopted by the company pursuant to the guidelines specified under rule 10b5-1 of the Securities Exchange Act of 1934, as amended. The actual timing, number, and value of shares repurchased will depend on market conditions, share price, trading volume, and other factors.
AAON, founded in 1988, is a world leader in HVAC solutions for commercial and industrial indoor environments. The company's industry-leading approach to designing and manufacturing highly configurable equipment to meet exact needs creates a premier ownership experience with greater efficiency, performance, and long-term value. AAON is headquartered in Tulsa, Oklahoma, where its world-class innovation center and testing lab allow AAON engineers to continuously push boundaries and advance the industry. Today the company's shares have moved -0.2% to a price of $80.78. For the full picture, make sure to review AAON's 8-K report.
