Gold prices rise on weaker dollar, Fed easing bets; holds long-term appeal
Preformed Line Products Company (NASDAQ:PLPC), a nearly $1 billion market cap company currently trading near its 52-week high of $209, announced changes to its board of directors on Monday following the death of director Michael E. Gibbons. According to InvestingPro data, the company has demonstrated strong financial health with robust cash flows and maintains more cash than debt on its balance sheet. According to a press release statement included in a filing with the Securities and Exchange Commission, Mr. Gibbons passed away unexpectedly on September 14, 2025.
Mr. Gibbons had served as a director since 2008, acting as Chairman of the Audit Committee and as a member of the Compensation Committee. The company noted his 17 years of service and his prior career at Brown Gibbons Lang & Company, an investment bank he founded in 1989.
Due to the vacancy created by Mr. Gibbons’ passing, the board has reduced its size to eight directors. Matthew D. Frymier, a current board and Audit Committee member, has been appointed Chairman of the Audit Committee. R. Steven Kestner, also a current board and Compensation Committee member, will now serve as Chairman of the Compensation Committee, replacing Mr. Frymier in that role.
Preformed Line Products is incorporated in Ohio and its common shares are traded on the Nasdaq Global Market under the symbol PLPC. The information in this article is based on a press release statement contained in a recent SEC filing.
In other recent news, Preformed Line Products declared a regular quarterly dividend of $0.20 per share. The dividend is set to be paid on October 20, 2025, to shareholders who are on record by October 1, 2025. Additionally, the company announced that its subsidiary, PLP Poland (Belos) S.A., secured a $27.4 million loan to finance the construction of a new manufacturing facility in Poland. This non-revolving investment loan agreement was made with Bank Polska Kasa Opieki Spółka Akcyjna, also known as Bank Pekao S.A. The loan is guaranteed by Preformed Line Products and is secured by the current and new manufacturing plants, along with all fixed assets at both sites. These developments reflect the company’s ongoing efforts to expand its operational capacity and return value to its shareholders.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.