DUBLIN (Feb. 6, 2019) – Allegion plc (NYSE: ALLE), a leading global security products and solutions provider, today announced that its board of directors declared a quarterly dividend of $0.27 per ordinary share of the company, an increase of 29 percent.
“Our action reflects Allegion’s continued commitment to drive sustainable shareholder returns,” said David D. Petratis, Allegion chairman, president and CEO. “The large increase in the dividend conveys our confidence in the company’s long-term cash flow prospects. In addition, this action supports the company’s balanced capital allocation strategy, including organic growth investments, accretive acquisitions and shareholder distributions. It also shows the board’s support of our plan to return cash to shareholders in the form of dividends above our annual earnings growth rate.”
The dividend is payable on March 29, 2019, to shareholders of record on March 15, 2019.
Allegion (NYSE: ALLE) is a global pioneer in safety and security, with leading brands like CISA®, Interflex®, LCN®, Schlage®, SimonsVoss® and Von Duprin®. Focusing on security around the door and adjacent areas, Allegion produces a range of solutions for homes, businesses, schools and other institutions. Allegion had annual revenues of $2.4 billion in 2017, with products sold in almost 130 countries.
For more, visit www.allegion.com.
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including statements regarding the company's financial performance, the company’s growth strategy, the company’s capital allocation strategy, the company’s tax planning strategies, and the performance of the markets in which the company operates. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “forecast,” “outlook,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result” or the negative thereof or variations thereon or similar expressions generally intended to identify forward-looking statements. Forward-looking statements are based on the company's currently available information and our current assumptions, expectations and projections about future events. They are subject to future events, risks and uncertainties - many of which are beyond the company’s control - as well as potentially inaccurate assumptions, that could cause actual results to differ materially from those in the forward-looking statements. Further information on these factors and other risks that may affect the company's business is included in filings it makes with the Securities and Exchange Commission from time to time, including its Form 10-K for the year ended Dec. 31, 2017, Form 10-Q for the quarters ended March 31, 2018, June 30, 2018, and Sept. 30, 2018, and in its other SEC filings. The company undertakes no obligation to update these forward-looking statements.