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Albany declares quarterly dividend of $0.16 per share
15
Dec '14
Advanced textiles producer and NYSE-listed – Albany International has announced that the Company’s Board of Directors has approved a quarterly dividend for holders of the Company’s common shares in the amount of $0.16 per common share. The dividend will be paid on January 8, 2015 to shareholders of record at the close of business on December 23, 2014.

According to reports, net income of Albany International surged to $11.8 million or $0.37 per share in the three months to September 30, 2014 from $4.7 million or $0.15 per share in the same quarter of 2013.

According to Albany, earnings mainly increased by foreign currency revaluation gains of $0.08 and an insurance-recovery gain of $0.01.

However, net sales at Albany International, in the reporting quarter fell by 1.8 per cent to $179.9 million.

Gross profit in the third quarter of 2014 was $68.6 million, or 38.2 percent of net sales, compared to $68.0 million, or 37.1 per cent of net sales, in the same period of 2013.

Albany International Corp. is a global advanced textiles and materials processing company, with two core businesses. Machine Clothing is the world’s leading producer of custom-designed fabrics and belts essential to production in the paper, nonwovens, and other process industries. Albany Engineered Composites is a rapidly growing supplier of highly engineered composite parts for the aerospace industry. Albany International is headquartered in Rochester, New Hampshire, operates 20 plants in 11 countries, and employs 4,100 people worldwide. (GK)

Fibre2fashion News Desk - India

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