American Vanguard Corp 8-K, filed Dec 12, 2022
American Vanguard Corp (AVD)
About this 8-K
American Vanguard Corp filed this 8-K on December 12, 2022.
Items reported
- Item 8.01: Other events
- Item 9.01: Financial statements and exhibits
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
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| Item 8.01 | Other Events |
On December 12, 2022, American Vanguard Corporation (“Registrant”) issued a press release announcing that its board of directors had declared a cash dividend of $0.03 per share of its common stock to holders of record as of December 28, 2022, for distribution on January 11, 2023. The full text of the press release is linked hereto as Exhibit 99.1 and is incorporated herein by reference.
The information contained in this Current Report on Form 8-K, including the Exhibit linked hereto, is being furnished under Items 8.01 and 9.01 and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.
| Item 9.01 | Financial Statements and Exhibits. |
(d) Exhibits
| Exhibit 99.1 | Press release of Registrant dated December 12, 2022, announcing a dividend declaration. | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). | |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, American Vanguard Corporation has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| AMERICAN VANGUARD CORPORATION | ||||||
| Date: December 12, 2022 | ||||||
| By: | /s/ Timothy J. Donnelly | |||||
| Timothy J. Donnelly | ||||||
| Chief Administrative Officer, General Counsel & Secretary | ||||||
Exhibit 99.1
FOR IMMEDIATE RELEASE
AMERICAN VANGUARD RAISES QUARTERLY DIVIDEND BY 20%
Newport Beach, CA – December 12, 2022 – American Vanguard Corporation (NYSE: AVD) announced that its Board of Directors has declared a cash dividend in the amount of $0.03 per share of the company’s common stock to shareholders of record as of December 28, 2022, for distribution on January 11, 2023.
Chairman and CEO Eric W. Wintemute commented, “In light of our strong financial performance during 2022 and a promising outlook for 2023, we are pleased to increase our quarterly cash dividend by 20%, to $0.03 per share. This dividend payment continues our history of providing cash returns to shareholders based on successful operational and financial performance. The quarterly dividend reflects the confidence that the Board of Directors has in our core business, our overall financial strength, and the substantial prospects of our strategic growth initiatives. We appreciate the continuing support of our shareholders, as we develop and deliver important solutions that enhance agricultural productivity, safeguard public health, and facilitate environmental sustainability. We look forward to updating stockholders at our next earnings call in early March 2023.”
| Annual Cash Dividend Payments: | Based on Date of Cash Distribution | |||
| 2023 — Payments (including pending) |
$ | 0.030 | ||
| 2022 — Full Calendar Year |
$ | 0.095 | ||
| 2021 — Full Calendar Year |
$ | 0.080 | ||
| 2020 — Full Calendar Year - (Pandemic Impacted) |
$ | 0.040 | ||
| 2019 — Full Calendar Year |
$ | 0.080 | ||
| 2018 — Full Calendar Year |
$ | 0.075 | ||
| 2017 — Full Calendar Year |
$ | 0.055 | ||
About American Vanguard
American Vanguard Corporation is a diversified specialty and agricultural products company that develops, manufactures and markets solutions for crop protection and nutrition, turf and ornamentals management, commercial and consumer pest control. American Vanguard is included on the Russell 2000® and Russell 3000® Indexes and the Standard & Poor’s Small Cap 600 Index. To learn more about American Vanguard, please reference the Company’s web site at www.american-vanguard.com.
The Company, from time to time, may discuss forward-looking information. Except for the historical information contained in this release, all forward-looking statements are estimates by the Company’s management and are subject to various risks and uncertainties that may cause results to differ from management’s current expectations. Such factors include weather conditions, changes in regulatory policy and other risks as detailed from time-to-time in the Company’s SEC reports and filings. All forward-looking statements, if any, in this release represent the Company’s judgment as of the date of this release.
| Company Contact: | Investor Representative | |
| American Vanguard Corporation | The Equity Group Inc. | |
| William A. Kuser, Director of Investor Relations | www.theequitygroup.com | |
| (949) 260-1200 | Lena Cati | |
| williamk@amvac.com | Lcati@equityny.com |