Alamo Group (ALG) will raise its quarterly dividend by 9.1 percent to $0.12 per share in the first quarter of 2019. In the first quarter of this year Alamo hiked its dividend by 10.0 percent.

Payment will be made on January 29, 2019 to shareholders of record at the close of business on January 17, 2019. Including the January dividend hike the total announced dividend increase YTD is 20.0 percent.

"Today's announcement reflects our continued confidence in Alamo Group's future and our commitment to improving overall shareholder value," said Ron Robinson, Alamo Group's President and Chief Executive Officer. "The share repurchase program is intended to enhance shareholder returns by mitigating the dilution effects associated with the issuance of Alamo Group stock under our equity incentive plans."

Alamo Group is a manufacturer and distributor of equipment for infrastructure maintenance, agriculture and other applications. The company's products include truck and tractor mounted mowing and other vegetation maintenance equipment, street sweepers, snow removal equipment, excavators, vacuum trucks, other industrial equipment, agricultural implements and related after-market parts and services. Alamo operates plants in North America, Europe, Australia and Brazil. The company was founded in 1969. Alamo's corporate offices are located in Seguin, Texas.