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Sauer-Danfoss Inc. Message Board

  • toroguy2000 toroguy2000 Mar 14, 2012 8:14 PM Flag

    No Stock Dividends?

    Anybody know if this company plans to reinstate dividends again.

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    • Sauer-Danfoss Inc. Reinstates Quarterly Cash Dividends

      AMES, Iowa, March 20, 2012 /PRNewswire/ -- Sauer-Danfoss Inc. (NYSE: SHS) today announced that its board of directors has approved a cash dividend of $0.35 per share. The dividend, for the quarter ended March 31, 2012, is payable on April 16, 2012, to stockholders of record as of March 30, 2012.

      "I am pleased to be able to announce the reinstatement of quarterly cash dividends. Over the past two years we have generated $530 million of free cash flow(1) and therefore have been able to reduce our debt, net of cash, from a peak of $492 million to a net cash position of $51 million at the end of 2011. In addition, as we look forward we anticipate we will continue to generate significant levels of free cash flow. This gives us the confidence to reinstate the payment of dividends," said Sven Ruder, President and Chief Executive Officer. "Our plan is to pay this level of dividend on a quarterly basis."

      This is the first quarterly dividend paid by the Company since it suspended the payment of dividends on March 13, 2009, in response to the recession.

 

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