Hammond Power Solutions Increases Quarterly Dividend
Hammond Power Solutions Inc. (HPS), a leading manufacturer of dry-type transformers and related magnetics, has announced an increase in its quarterly dividend.
The company’s Board of Directors has approved a quarterly dividend of $0.08 per share, representing a 14.3% increase from the previous dividend of $0.07 per share. This dividend will be payable on April 15, 2020 to shareholders of record on March 31, 2020.
This marks the 20th consecutive year that HPS has increased its dividend, demonstrating the company’s commitment to providing value to its shareholders. The decision to increase the dividend was made based on the company’s strong financial performance and positive outlook for the future.
HPS has a long history of delivering consistent and sustainable growth, and this increase in dividend is a reflection of the company’s continued success. The company has a strong balance sheet and a solid cash flow, which allows it to invest in its business and return value to its shareholders.
HPS has a global presence, with manufacturing facilities in Canada, the United States, Mexico, and Italy. The company’s products are used in a wide range of industries, including oil and gas, mining, renewable energy, and transportation. HPS is known for its high-quality products, innovative solutions, and exceptional customer service.
The company’s strong financial performance can be attributed to its focus on operational excellence, continuous improvement, and strategic investments. HPS has made significant investments in research and development, new product development, and expanding its global footprint, which has helped the company to stay ahead of its competitors and meet the evolving needs of its customers.
HPS is also committed to sustainability and has implemented various initiatives to reduce its environmental impact. The company has invested in energy-efficient equipment, implemented recycling programs, and reduced its carbon footprint. These efforts not only benefit the environment but also contribute to the company’s bottom line.
In addition to its financial success, HPS is also dedicated to giving back to the community. The company supports various charitable organizations and encourages its employees to volunteer and make a positive impact in their local communities.
In conclusion, HPS’s decision to increase its quarterly dividend is a testament to the company’s strong financial performance, commitment to sustainability, and dedication to creating value for its shareholders. With its global presence, innovative solutions, and focus on operational excellence, HPS is well-positioned for continued growth and success in the future.
