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HILLIARD, Ohio ~ Advanced Drainage Systems, Inc. (NYSE: WMS) ("ADS" or the "Company"), a leading provider of innovative water management solutions in the stormwater and on-site septic waste water industries, has announced that its Board of Directors has approved a total annual cash dividend to its shareholders in the amount of $0.56 per share, a 17% increase over the prior year dividend amount.
Scott Barbour, President and Chief Executive Officer of Advanced Drainage Systems commented on the decision, "The 17% increase in the cash dividend is predicated on the strength of our balance sheet, formidable cash generation, and ongoing commitment to returning capital to shareholders. Our strong financial performance and operational excellence initiatives provide us with the confidence and financial flexibility to return excess cash to our shareholders while simultaneously continuing to strategically invest in our business."
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The quarterly cash dividend amount of $0.14 per share will be paid on June 15, 2023, to shareholders of record at the close of business on June 1, 2023.
Advanced Drainage Systems is a leading manufacturer of innovative stormwater and onsite septic wastewater solutions that manages water resources around the world. The company provides superior drainage solutions for use in commercial, residential, infrastructure and agriculture markets. ADS also operates an expansive sales team and a vast manufacturing network consisting of approximately 70 manufacturing plants and 40 distribution centers across North America. Additionally, ADS is one of the largest plastic recycling companies in North America with over half a billion pounds recycled every year. Founded in 1966, ADS' water management solutions are designed for long-term use.
Scott Barbour, President and Chief Executive Officer of Advanced Drainage Systems commented on the decision, "The 17% increase in the cash dividend is predicated on the strength of our balance sheet, formidable cash generation, and ongoing commitment to returning capital to shareholders. Our strong financial performance and operational excellence initiatives provide us with the confidence and financial flexibility to return excess cash to our shareholders while simultaneously continuing to strategically invest in our business."
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The quarterly cash dividend amount of $0.14 per share will be paid on June 15, 2023, to shareholders of record at the close of business on June 1, 2023.
Advanced Drainage Systems is a leading manufacturer of innovative stormwater and onsite septic wastewater solutions that manages water resources around the world. The company provides superior drainage solutions for use in commercial, residential, infrastructure and agriculture markets. ADS also operates an expansive sales team and a vast manufacturing network consisting of approximately 70 manufacturing plants and 40 distribution centers across North America. Additionally, ADS is one of the largest plastic recycling companies in North America with over half a billion pounds recycled every year. Founded in 1966, ADS' water management solutions are designed for long-term use.
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