DALLAS, March 21 /PRNewswire-FirstCall/ -- Eagle Materials Inc. (NYSE:
EXP), today announced that its Board of Directors has approved an increase
in its annual cash dividend from $0.70 per share to $0.80 per share
(representing an increase in the regular quarterly cash dividend from
$0.175 per share to $0.20 per share). The increased regular cash dividend
will commence with the cash dividend to be paid in July 2007. This increase
reflects the Board's confidence in Eagle's financial strength and ability
to pay the enhanced dividend from its cash flow without materially
impacting its ability to take advantage of future growth opportunities.
This increased dividend will not affect the previously announced dividend
to be paid on April 20, 2007 to stockholders of record on March 23, 2007.
The Board of Directors will set the record and payment date for the
enhanced July 2007 dividend in the normal course.
Eagle Materials Inc. is a Dallas-based company that manufactures and
distributes Cement, Gypsum Wallboard, Recycled Paperboard, and Concrete and
Aggregates.
Forward-Looking Statements. This press release contains forward-looking
statements within the meaning of Section 27A of the Securities Act of 1933,
Section 21E of the Securities Exchange Act of 1934 and the Private
Securities Litigation Reform Act of 1995. Forward-looking statements may be
identified by the context of the statement and generally arise when the
Company is discussing its beliefs, estimates or expectations. These
statements are not historical facts or guarantees of future performance but
instead represent only the Company's belief at the time the statements were
made regarding future events which are subject to certain risks,
uncertainties and other factors many of which are outside the Company's
control. Actual results and outcomes may differ materially from what is
expressed or forecast in such forward-looking statements. The principal
risks and uncertainties that may affect the Company's actual performance
include the following: the cyclical and seasonal nature of the Company's
business; public infrastructure expenditures; adverse weather conditions;
availability of raw materials; changes in energy costs including, without
limitation, natural gas; changes in the cost and availability of
transportation; unexpected operational difficulties; inability to timely
execute announced capacity expansions; governmental regulation and changes
in governmental and public policy; changes in economic conditions specific
to any one or more of the Company's markets; competition; announced
increases in capacity in the gypsum wallboard and cement industries;
changes in demand for residential housing construction or commercial
construction; general economic conditions; and interest rates. For example,
increases in interest rates, decreases in demand for construction materials
or increases in the cost of energy (including natural gas) could affect the
revenues and operating earnings of our operations. In addition, changes in
national or regional economic conditions and levels of infrastructure and
construction spending could also adversely affect the Company's result of
operations. These and other factors are described in the Company's Annual
Report on Form 10-K for the fiscal year ended March 31, 2006 and its
quarterly report on Form 10-Q for the fiscal quarter ended December 31,
2006. These reports are filed with the Securities and Exchange Commission.
All forward-looking statements made herein are made as of the date hereof,
and the risk that actual results will differ materially from expectations
expressed herein will increase with the passage of time. The Company
undertakes no duty to update any forward-looking statement to reflect
future events or changes in the Company's expectations.
SOURCE Eagle Materials Inc.
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Related links:
http://www.eaglematerials.com/
CONTACT:
Steven R. Rowley, President & CEO, or Arthur
R. Zunker, Jr., Senior Vice President & CFO, both of Eagle
Materials Inc., +1-214-432-2000
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