Astec Industries declares quarterly dividend of $0.13 per share

CHATTANOOGA - Astec Industries , Inc. (NASDAQ: NASDAQ:ASTE), a manufacturer specializing in equipment for asphalt road building, aggregate processing, and concrete production, has announced a quarterly dividend of $0.13 per share, representing a 1.68% yield. The company has maintained dividend payments for 13 consecutive years, according to InvestingPro data. Shareholders on record by the close of business on March 10, 2025, will be eligible for the dividend, which is scheduled for payment on March 31, 2025.

The company operates through two primary business segments: Infrastructure Solutions, which includes road building, asphalt and concrete plants, and thermal and storage solutions; and Materials Solutions, which covers aggregate processing equipment. With a market capitalization of $696 million and a healthy current ratio of 2.47, Astec maintains strong liquidity. InvestingPro analysis suggests the stock is currently undervalued, with additional insights available in the comprehensive Pro Research Report. Astec Industries has a presence on several social media platforms, including LinkedIn, Facebook (NASDAQ:META), Instagram, YouTube, and Twitter, where it shares updates and information about its operations.

This dividend declaration follows Astec’s regular practice of returning value to its shareholders and reflects the company’s financial policies aimed at providing consistent shareholder returns. Trading near its 52-week low of $28.46, the stock presents potential opportunities for value investors. The announcement is based on a press release statement from Astec Industries.

In other recent news, Astec Industries has adopted a new executive severance plan aimed at providing structured compensation arrangements for key employees under specific termination conditions. The plan, approved by the Board of Directors, includes two tiers of benefits, with Tier I participants like Jaco van der Merwe receiving severance payments equal to two times their base salary and target annual bonus. Tier II participants, including Brian Harris, Michael Norris, and Ben Snyman, will receive one times their base salary and target annual bonus. Additionally, the plan outlines benefits for terminations related to a change in company control, offering higher severance payments and vested stock awards. Astec Industries has also announced the departure of Jamie E. Palm, Vice President, Chief Accounting Officer, and Corporate Controller, effective December 27, 2024. Her resignation is not related to any disagreements with the company, and Brian J. Harris will assume her responsibilities. This executive change occurs as Astec continues its operations in the construction machinery and equipment sector.

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