Friday January 11, 01:19 PM
Acuity Brands lowers quarterly dividend after Zep spin-off
NEW YORK (Thomson Financial) - Acuity Brands Inc (NYSE: AYI - news) . Friday said its board has declared a quarterly dividend of 13 cents a
share, a decrease of 2 cents a share reflecting the company's previously-announced plans to adjust the dividend following the spin-off of specialty products business Zep Inc.
Future dividends paid by Zep combined with future Acuity dividends should equal the amount paid by Acuity before the spin-off, the company said.
The dividend is payable on Feb. 1 to shareholders of record as of Jan. 21.
Acuity shares closed at $44.13 on Thursday.
Christie Rizk
cr/pc
COPYRIGHT
Copyright Thomson Financial News Limited 2007. All rights reserved.
The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
NNNN
|
Send Article by Email
