AZZ Declares Dividend, Announces CEO Retirement

AZZ (NYSE: AZZ  ) is again opening its coffers for a shareholder payout. The company has decided to keep its dividend steady by declaring a fresh distribution of $0.14 per share. This will be paid on July 26 to shareholders of record as of July 12. That amount matches each of the firm's previous three distributions, the most recent of which was handed out in early May. Prior to that, AZZ paid $0.25 per share, although this was in advance of a two-for-one stock split effected in July 2012.

The just-declared dividend annualizes to $0.56 per share. That yields 1.5% at AZZ's most recent closing stock price of $38.56.

The company also announced that David Dingus, its president and CEO, is to retire due to health issues. He will formally step down on March 1 of next year. The firm's board of directors has appointed a succession committee to find a replacement.


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