JBT Corporation Announces Quarterly Dividend and Share Repurchase Program
CHICAGO, Dec. 3, 2015 /PRNewswire/ -- JBT Corporation (NYSE: JBT) today announced an 11 percent increase in its quarterly dividend.
The Company's Board of Directors declared a fourth quarter 2015 cash dividend of $0.10 per share of outstanding common stock, up from the previous quarterly dividend of $0.09 per share. The dividend will be payable on December 28, 2015 to stockholders of record at the close of business on December 14, 2015.
The Board of Directors also authorized a new share repurchase plan of up to $30 million of the Company's common stock, effective January 1, 2016 through December 31, 2018. The timing, price and volume of repurchases will be based on market conditions, relevant securities laws and other factors. The Company's existing plan will expire on December 31, 2015 in accordance with its terms, with all remaining share repurchase capacity under the existing plan expiring unutilized at such time.
JBT Corporation (NYSE: JBT) is a leading global technology solutions provider to the food processing and air transportation industries. JBT Corporation designs, manufactures, tests and services technologically sophisticated systems and products for regional and multi-national industrial food processing customers through its JBT FoodTech segment and for domestic and international air transportation customers through its JBT AeroTech segment. JBT Corporation employs approximately 4,200 people worldwide and operates sales, service, manufacturing and sourcing operations located in over 25 countries. For more information please visit www.jbtcorporation.com.
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SOURCE JBT Corporation