Advanced Drainage Systems (WMS) will raise its quarterly dividend by 12.5 percent to $0.09 per share in 2019. This is the fifth straight year of double digit dividend increases by the drainage solutions company. Also a $1.00 per share special dividend will be paid together with the regular dividend.

Both dividends, for a total of $1.09 per share, will be paid on June 14, 2019 to shareholders of record at the close of business on June 3, 2019. The new regular annual dividend of 36 cents yields 1.2% at a stock price of $29.96.

Scott Barbour, President and Chief Executive Officer, commented, “Today’s special dividend declaration is the latest step in our commitment to return capital to shareholders. Given our strong balance sheet and favorable financial position, we are able to do this while preserving the financial and operational flexibility to pursue acquisitions and other capital investments as part of our three-year growth plan."

Advanced Drainage Systems is a manufacturer of thermoplastic corrugated pipe, providing water management products and drainage solutions for use in the construction and infrastructure marketplace. Its products are used across a broad range of end markets and applications, including non-residential, residential, agriculture and infrastructure applications.