Company: BHE
Filing Date: 2025-02-27
Form Type: 10-K/A
Source: 0000950170-25-029247
Chunk: 21

Company: BENCHMARK ELECTRONICS INC
Filing Date: 2025-02-27
Form: 10-K/A
Chunk 21
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 declaring and paying quarterly dividends during the first quarter of 2018. The Company declared dividends per share of common stock of $ 0.165 in 2022, 2023 and the first and second quarters of 2024, and $ 0.17 in the third and fourth quarters of 2024. D uring 2024, 2023 and 2022, cash dividends paid totaled $ 23.9 million, $ 23.5 million and $ 23.2 million, respectively. In July 2024, the Board of Directors approved a quarterly dividend increase, raising the quarterly dividend from $ 0.165 to $ 0.17 per common share. On December 9, 2024, the Company announced that the Board of Directors declared a quarterly cash dividend of $ 0.17 per share of the Company’s common stock to shareholders of record as of December 31, 2024. The dividend of $ 6.1 million was paid on January 14, 2025. The Board of Directors currently intends to continue paying quarterly dividends. However, the Company’s future dividend policy is subject to the Company’s compliance with applicable laws, and depends on, among other things, the Company’s results of operations, financial condition, level of indebtedness, capital requirements, contractual restrictions, restrictions in the Company’s debt agreements, and other factors that the Board of Directors may deem relevant. Dividend payments are not mandatory or guaranteed and no assurance is made that the Company will continue to pay a dividend in the future. Share Repurchase Authorization On March 6, 2018, the Board of Directors approved an expanded share repurchase authorization granting the Company authority to repurchase up to $ 250 million in common stock in addition to the $ 100 million previously approved on December 7, 2015. On October 26, 2018, the Board of Directors authorized the Company to repurchase up to $ 100 million in common stock. Subsequently, on February 19, 2020, the Board approved an additional share repurchase authorization, allowing the Company to buy back another $ 150 million in common stock. Share purchases may be made in the open market, in privately negotiated transactions or block transactions, at the discretion of the Company’s management and as market conditions warrant. Purchases will be funded from available cash and may be commenced, suspended or discontinued at any time without prior notice. Shares repurchased under the program are retired.

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