Nacco Industries Inc 8-K, filed Nov 10, 2021
Nacco Industries Inc (NC)
8-K
2021-11-10
For: 2021-11-10
View Original
Added on
April 07, 2026
About this 8-K
Nacco Industries Inc filed this 8-K on November 10, 2021.
Items reported
- Item 8.01: Other events
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
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FORM 8-K
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Indicate by check mark whether the registrant is an emerging growth company as defined in as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter):
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Item 8.01 Other Events.
On November 10, 2021, NACCO Industries® (the "Company") issued a press release announcing that the Board of Directors declared a regular cash dividend of 19.75 cents per share and announced a new stock repurchase program. The dividend is payable on both the Class A and Class B Common Stock, and will be paid December 15, 2021 to stockholders of record at the close of business on November 30, 2021.
The Company also announced that the Board of Directors approved a new stock repurchase program providing for the purchase of up to $20 million of the Company’s outstanding common stock through December 31, 2023. The new repurchase program replaces the Company’s existing repurchase program approved by the Board of Directors in November 2019, which was set to expire on December 31, 2021.
A copy of the Company’s press release announcing the quarterly dividend and stock repurchase program is attached hereto as Exhibit 99 and incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
The following exhibit is filed herewith:
(d) Exhibits | ||||||||
| 99 | ||||||||
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) | |||||||
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Date: | November 10, 2021 | NACCO INDUSTRIES, INC. | ||||||||||||
| By: | /s/ Elizabeth I. Loveman | |||||||||||||
| Elizabeth I. Loveman | ||||||||||||||
| Vice President and Controller | ||||||||||||||
Exhibit 99
NEWS RELEASE 
5875 Landerbrook Drive Cleveland, Ohio 44124-4069
Tel. (440) 229-5151 Fax (440) 229-5138
FOR FURTHER INFORMATION, CONTACT:
Christina Kmetko
(440) 229-5130
For Immediate Release
Wednesday, November 10, 2021
NACCO INDUSTRIES
DECLARES QUARTERLY DIVIDEND AND ANNOUNCES
STOCK REPURCHASE PROGRAM
Cleveland, Ohio, November 10, 2021 – NACCO Industries® (NYSE: NC) announced today that the Board of Directors declared a regular cash dividend of 19.75 cents per share and announced a new stock repurchase program.
The dividend is payable on both the Class A and Class B Common Stock, and will be paid December 15, 2021 to stockholders of record at the close of business on November 30, 2021.
NACCO's Board of Directors also approved a stock repurchase program providing for the purchase of up to $20 million of the Company’s outstanding Class A Common Stock through December 31, 2023. NACCO’s current program would have expired on December 31, 2021 but has been terminated and replaced by the new program. Since the adoption of the prior program in November 2019, the Company has expended approximately $2.3 million to purchase approximately 60,380 shares of Class A common stock.
The timing and amount of any repurchases under the new repurchase program will be determined at the discretion of the Company's management based on a number of factors, including the availability of capital, other capital allocation alternatives and market conditions for the Company's Class A common stock. The share repurchase program does not require the Company to acquire any specific number of shares. It may be modified, suspended, extended or terminated by the Company at any time without prior notice and may be executed through open market purchases, privately negotiated transactions or otherwise. All or part of the repurchases may be implemented under a Rule 10b5-1 trading plan, which would allow repurchases under pre-set terms at times when the Company might otherwise be prevented from doing so.
Forward-looking Statements Disclaimer
The statements contained in the news release that are not historical facts are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are made subject to certain risks and uncertainties, which could cause actual results to differ materially from those presented. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Company undertakes no obligation to publicly revise these forward-looking statements to
reflect events or circumstances that arise after the date hereof. Factors that may cause actual results to differ materially from those in the forward-looking statements include those set forth under the heading “Risk Factors” in NACCO’s most recent 10-K filed with the Securities and Exchange Commission.
About NACCO Industries
NACCO Industries® brings natural resources to life by delivering aggregates, minerals, reliable fuels and environmental solutions through its robust portfolio of NACCO Natural Resources businesses. Learn more about our companies at nacco.com or get investor information at ir.nacco.com.
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