AECOM (ACM), an infrastructure consulting firm, announced today that its Board of Directors has declared a quarterly cash dividend as part of the initiation of a recurring quarterly dividend program. The initial quarterly dividend of $0.15 per share will be paid on January 21, 2022 to stockholders of record as of January 5, 2022. The company intends to increase its dividend per share by a double-digit percentage annually.
A 60 cent per share annual dividend will yield 0.8% at a stock price of $74.
AECOM’s capital allocation policy is built on a commitment to return substantially all available cash flow to stockholders. The initiation of a quarterly dividend program is consistent with the Company’s capital allocation policy and complements the Company’s expected ongoing share repurchase program.
“The initiation of a quarterly dividend payment with the intent to increase it by double digits annually is a significant milestone in our history that affirms our ongoing intention to consistently return capital to our stockholders,” said Troy Rudd, AECOM’s chief executive officer. “Today’s announcement reflects the confidence we have in our operating performance and outlook for organic growth, the strength of our balance sheet, and our expectation for continued compounding of earnings at a high rate and strong free cash flow. We intend to continue to repurchase stock as part of our capital allocation program, with dividends complementing repurchases as we seek to enhance total shareholder return and attract the broadest investor base possible.”
AECOM is an infrastructure consulting firm, delivering professional services throughout the project lifecycle – from planning, design and engineering to program and construction management. The Company provides professional services throughout the project lifecycle, from planning, architecture, design and engineering to program and construction management. Its segments include Americas, International and AECOM Capital (ACAP). AECOM initiated a dividend in 2021.