DUBLIN, Ireland--(BUSINESS WIRE)--
Allegion plc (NYSE: ALLE), a leading global provider of security
products and solutions, announced that its board of directors declared a
quarterly dividend of $0.08 cents per ordinary share of the company. The
board also authorized the repurchase of up to $200 million of the
company's ordinary shares.
The dividend is payable March 31, 2014, to shareholders of record on
March 17, 2014.
"Our goal is to use our consistently strong cash flow to deliver value
to our shareholders applying the right mix of investing in our growth
and returning capital through dividends and stock repurchases," said
Dave Petratis, chairman, president and chief executive officer,
Allegion. "The Board's decision reaffirms this goal and enables us to
pursue organic and acquisition-led investments while providing
appropriate levels of return for investors and supporting our capital
structure."
Based on market conditions, share repurchases will be made from time to
time in the open market and in privately negotiated transactions at the
discretion of management.
This news release includes "forward-looking statements," which are
statements that are not historical facts, including statements that
relate to our business and growth strategy, our capital allocation
strategy and our financial performance. These forward-looking statements
are based on our current expectations and are subject to risks and
uncertainties, which may cause actual results to differ materially from
our current expectations. Such factors include, but are not limited to,
our ability to fully realize the expected benefits of the spinoff;
global economic conditions, demand for our products and services and tax
law changes. Additional factors that could cause such differences can be
found in our Form 10. We assume no obligation to update these
forward-looking statements.
About Allegion
Allegion (NYSE: ALLE) creates peace of mind by pioneering safety and
security. As a $2 billion provider of security solutions for homes and
businesses, Allegion employs more than 7,800 people and sells products
in more than 120 countries across the world. Allegion comprises 23
global brands, including strategic brands CISA®, Interflex®, LCN®,
Schlage® and Von Duprin®.
For more, visit www.allegion.com.
Allegion
Media:
Susana Duarte de Suarez, 317-810-3393
[email protected]
or
Analysts:
Tom
Martineau, 317-810-3759
[email protected]
Source: Allegion plc
News Provided by Acquire Media
