JBT Corporation (NYSE: JBT) said it has announced an 11 percent increase in its quarterly dividend.
The company´s board of directors declared a fourth quarter 2015 cash dividend of USD0.10 per share of outstanding common stock, up from the previous quarterly dividend of USD0.09 per share. The dividend will be payable on December 28, 2015 to stockholders of record at the close of business on December 14, 2015.
The board of directors also authorized a new share repurchase plan of up to USD30 million of the company´s common stock, effective January 1, 2016 through December 31, 2018. The timing, price and volume of repurchases will be based on market conditions, relevant securities laws and other factors. The company´s existing plan will expire on December 31, 2015 in accordance with its terms, with all remaining share repurchase capacity under the existing plan expiring unutilized at such time.
JBT is a leading global technology solutions provider to the food processing and air transportation industries. JBT Corporation designs, manufactures, tests and services technologically sophisticated systems and products for regional and multi-national industrial food processing customers through its JBT FoodTech segment and for domestic and international air transportation customers through its JBT AeroTech segment.