NEW YORK, Dec. 05, 2024 (GLOBE NEWSWIRE) -- ABM (NYSE: ABM), a leading provider of facility solutions, today announced that its Board of Directors has approved a quarterly cash dividend of $0.265 per common share, which is a 18% increase from the prior quarterly cash dividend of $0.225 per common share. The increased dividend is payable on February 3, 2025, to shareholders of record on January 2, 2025. This will be the Company's 235th consecutive quarterly cash dividend and represents the 57th consecutive year of ABM raising its dividend.
Sudhakar Kesavan, Chairman of the Board of Directors of ABM, commented, "This dividend increase reflects the Board's continued confidence in ABM's growth trajectory, strategic vision, and philosophy of balanced capital allocation."
"I am pleased the Board of Directors has approved our dividend increase," said Scott Salmirs, ABM's President & Chief Executive Officer. "This puts us on a solid path to achieve our long-term dividend payout ratio target of around 30% of adjusted net income. It is also an affirmation of the resilience of our business model, market positioning, and our ability to generate cash, which affords us the opportunity to consistently return capital to shareholders while still continuously investing in our business."
ABOUT ABM
ABM (NYSE: ABM) is one of the world's largest providers of integrated facility services. A driving force for a cleaner, healthier, and more sustainable world, ABM provides essential services that improve the spaces and places that matter most. From curbside to rooftop, ABM offers a comprehensive array of facility services that include janitorial, engineering, parking, electrical & lighting, energy solutions, HVAC & mechanical, landscape & turf, and mission critical solutions. ABM delivers these custom facility solutions to properties across a wide range of industries - from commercial office buildings to schools, airports, hospitals, data centers, manufacturing plants and distribution centers, entertainment venues and more. Founded in 1909, ABM today has annualized revenue exceeding $8 billion and more than 100,000 team members in 350+ offices throughout the United States, United Kingdom and other international locations. For more information, visit www.abm.com.
Contact:
Investor Relations:
Paul Goldberg
212-297-9721
ir@abm.com
