Advanced Drainage Systems hikes dividend by 16.7%

Advanced Drainage Systems (WMS) will raise its quarterly dividend by 16.7 percent to 14 cents per share in 2023. The quarterly cash dividend amount of $0.14 per share will be paid on June 15, 2023, to shareholders of record at the close of business on June 1, 2023.

Scott Barbour, President and Chief Executive Officer of Advanced Drainage Systems commented, “The 17% increase in the cash dividend is predicated on the strength of our balance sheet, formidable cash generation, and ongoing commitment to returning capital to shareholders. Our strong financial performance and operational excellence initiatives provide us with the confidence and financial flexibility to return excess cash to our shareholders while simultaneously continuing to strategically invest in our business.”

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.