Alta Equipment Group declares a quarterly dividend of $0.625 per share, payable January 31, 2025.
Quiver AI Summary
Alta Equipment Group Inc. has announced approval from its Board of Directors for a quarterly dividend of $625 per share on its Series A Cumulative Perpetual Preferred Stock, equating to $0.625 per Depositary Share. The dividend payment is scheduled for January 31, 2025, for shareholders on record by January 15, 2025. Alta is a prominent provider of material handling, construction, and environmental processing equipment with a robust dealership platform across North America, serving a diverse range of equipment needs through its extensive branch network. The company, which has been operating for 40 years, features over 85 locations across various states and Canadian provinces.
Potential Positives
- Approval of a quarterly dividend of $625 per preferred share demonstrates the Board's commitment to returning value to shareholders.
- The scheduled dividend payment enhances investor confidence and signals the company's financial stability.
- Being a leading provider in the equipment sector positions Alta favorably for continued growth and customer loyalty, further reinforced by the dividend announcement.
Potential Negatives
- The announcement of a dividend for preferred shares may indicate that the company is prioritizing preferred shareholders over common shareholders, potentially leading to dissatisfaction among common shareholders.
- The specific amount of the dividend, $625 per preferred share, could be viewed as a signal of the company's financial strategy and priorities, which may not align with growth-oriented investments.
FAQ
What is the quarterly dividend approved by Alta Equipment Group?
Alta Equipment Group's Board of Directors approved a quarterly dividend of $625 per preferred share, equating to $0.625 per Depositary Share.
When will the dividend payment date be for Alta's preferred shares?
The dividend payment date is January 31, 2025, for shareholders of record at the close of business on January 15, 2025.
How long has Alta Equipment Group been in business?
Alta Equipment Group has operated as an equipment dealership for 40 years, serving various regions across North America.
What types of equipment does Alta Equipment Group provide?
Alta offers a range of specialized equipment, including lift trucks, heavy earthmoving equipment, environmental processing equipment, and construction machinery.
Where can I find more information about Alta Equipment Group?
More information about Alta Equipment Group can be found on their official website at www.altg.com.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$ALTG Insider Trading Activity
$ALTG insiders have traded $ALTG stock on the open market 6 times in the past 6 months. Of those trades, 5 have been purchases and 1 have been sales.
Here’s a breakdown of recent trading of $ALTG stock by insiders over the last 6 months:
- CAPITAL, LP VOSS sold 11,311 shares.
- ANDREW P STUDDERT purchased 10,000 shares.
- ROAD CAPITAL III, L.P. MILL has traded it 4 times. They made 4 purchases, buying 349,114 shares and 0 sales.
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$ALTG Hedge Fund Activity
We have seen 58 institutional investors add shares of $ALTG stock to their portfolio, and 61 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- MILL ROAD CAPITAL MANAGEMENT LLC added 650,214 shares (+18.2%) to their portfolio in Q3 2024
- PUNCH & ASSOCIATES INVESTMENT MANAGEMENT, INC. removed 456,500 shares (-62.7%) from their portfolio in Q3 2024
- 272 CAPITAL LP removed 430,742 shares (-88.0%) from their portfolio in Q3 2024
- PALOMA PARTNERS MANAGEMENT CO added 392,633 shares (+inf%) to their portfolio in Q3 2024
- CASTLEKNIGHT MANAGEMENT LP added 317,914 shares (+inf%) to their portfolio in Q3 2024
- ESSEX INVESTMENT MANAGEMENT CO LLC removed 193,176 shares (-100.0%) from their portfolio in Q3 2024
- SUSQUEHANNA INTERNATIONAL GROUP, LLP removed 182,455 shares (-76.6%) from their portfolio in Q3 2024
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
LIVONIA, Mich., Jan. 03, 2025 (GLOBE NEWSWIRE) -- Alta Equipment Group Inc. (NYSE: ALTG) (“Alta” or “the Company”), a leading provider of premium material handling, construction and environmental processing equipment and related services, today announced that its Board of Directors approved the quarterly dividend on its Series A Cumulative Perpetual Preferred Stock in the amount of $625 per preferred share. This will equate to a dividend of $0.625 for each of the outstanding Depositary Shares representing a 1/1000th fractional interest in one share of Series A Preferred. The dividend payment date is January 31, 2025, to shareholders of record at the close of business on January 15, 2025.
About Alta Equipment Group Inc.
Alta owns and operates one of the largest integrated equipment dealership platforms in North America. Through our branch network, the Company sells, rents, and provides parts and service support for several categories of specialized equipment, including lift trucks and other material handling equipment, heavy and compact earthmoving equipment, crushing and screening equipment, environmental processing equipment, cranes and aerial work platforms, paving and asphalt equipment, other construction equipment and allied products. Alta has operated as an equipment dealership for 40 years and has developed a branch network that includes over 85 total locations across Michigan, Illinois, Indiana, Ohio, Pennsylvania, Massachusetts, Maine, Connecticut, New Hampshire, Vermont, Rhode Island, New York, Virginia, Nevada and Florida and the Canadian provinces of Ontario and Quebec. Alta offers its customers a one-stop-shop for their equipment needs through its broad, industry-leading product portfolio. More information can be found at
www.altg.com
.
Contacts
Investors:
Kevin Inda
SCR Partners, LLC
kevin@scr-ir.com
(225) 772-0254
Media:
Glenn Moore
Alta Equipment
glenn.moore@altg.com
(248) 305-2134
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