Ohio business review

ParkOhio Declares a Quarterly Dividend for Shareholders

The Board of Directors of Park-Ohio Holdings Corp. (NASDAQ: PKOH) announced that they will be distributing a quarterly cash dividend of $0.125 per share to all outstanding common stockholders. 

The dividend is scheduled to be paid on August 18, 2023, but only to shareholders who are officially recorded as of the close of business on August 4, 2023.

ParkOhio is a globally diversified company that caters to top-tier customers with a comprehensive array of services. These services include supply chain management outsourcing, the supply of capital equipment utilized in their production processes, and the provision of manufactured components crucial for assembling their products. 

Headquartered in Cleveland, ParkOhio manages a global network of approximately 130 manufacturing locations and supply chain logistics facilities, divided into three independent reportable segments: Supply Technologies, Assembly Components, and Engineered Products. 

This press release includes forward-looking statements about the Company’s future performance and prospects. These statements are subject to a variety of risks and uncertainties that might cause actual outcomes to differ significantly from predictions. Some of these factors include uncertainties surrounding the potential sale of the Aluminum Products business, the impact of the COVID-19 pandemic on business operations, supply chain disruptions, and economic conditions. Other factors include general business conditions, competitive pressures, changes in customer relationships, raw material availability and pricing, labor disturbances, and government regulations.

Additionally, the Company highlights its dependence on the automotive and heavy-duty truck industries, potential liability for environmental remediation activities, credit market volatility, and the risks associated with its operations. The statement also mentions the uncertainty surrounding cash dividends, management’s key role, and information system dependence.

The Company emphasizes that any forward-looking statement is valid only as of the date mentioned in the release and that it undertakes no obligation to update such statements unless required by law. Given these uncertainties, readers should not interpret the forward-looking statements as a guarantee of the Company’s plans and objectives. The Company does not assume responsibility for updating the information in this release.

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