Form 8-K - Current report
18 Juli 2024 - 12:58PM
Edgar (US Regulatory)
0001921963FALSE00019219632024-07-182024-07-18
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
___________________________
FORM 8-K
___________________________
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): July 18, 2024
Atmus Filtration Technologies Inc.
(Exact name of registrant as specified in its charter)
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Delaware | 001-41710 | 88-1611079 |
(State or other jurisdiction of incorporation or organization) | (Commission File Number) | (I.R.S. Employer Identification No.) |
| | | |
26 Century Boulevard Nashville, Tennessee | 37214 |
(Address of Principal Executive Offices) | (Zip Code) |
(615) 514-7339
Registrant's telephone number, including area code
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
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☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
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Title of each class | | Trading Symbol(s) | | Name of each exchange on which registered |
Common Stock, $0.0001 par value | | ATMU | | New York Stock Exchange |
Indicate by check mark whether the registrant is an emerging growth company as defined by Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o
Item 8.01 Other Events.
On July 18, 2024, Atmus Filtration Technologies Inc. (the “Company”) issued a press release reporting that its Board of Directors declared a quarterly cash dividend payment of $0.05 per common share, payable on August 14, 2024 to shareholders of record at the close of business on August 1, 2024 and approved a stock repurchase program which authorizes the Company to purchase up to $150 million of its outstanding shares of common stock. Stock repurchases may be executed through open market or in privately negotiated transactions. The program does not have an expiration date and may be suspended or discontinued at any time. A copy of the press release is furnished as Exhibit 99.1 hereto.
Item 9.01 Financial Statements and Exhibits.
The following exhibits are being filed as part of this Report.
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Exhibit No. | | Description |
99.1 | | |
104 | | Cover Page Interactive Data File (embedded with the Inline XBRL Document). |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
Atmus Filtration Technologies Inc.
| | | | | | | | |
By: | /s/ STEPHANIE J. DISHER |
Stephanie J. Disher |
Chief Executive Officer |
|
July 18, 2024
EXHIBIT 99.1
July 18, 2024
Atmus Filtration Technologies Announces Capital Return to Shareholders
NASHVILLE, Tenn. – Atmus Filtration Technologies Inc. (Atmus; NYSE: ATMU), a global leader in the filtration industry, announced today that its Board of Directors has declared its first quarterly cash dividend in the amount of $0.05 per common share, payable on August 14, 2024 to shareholders of record at the close of business on August 1, 2024. In addition, the Board of Directors has authorized a $150 million share repurchase program, effective immediately.
“We are pleased to announce this comprehensive capital return program as part of our ongoing commitment to strengthen total shareholder value,” said Steph Disher, Chief Executive Officer of Atmus. “The strong cash generation ability of our business allows us to deliver high quality solutions to our customers, invest in strategic growth initiatives and now return capital to shareholders.”
Under the share repurchase program, the Company's common shares may be repurchased in the open market or in privately negotiated transactions, at prices that the Company deems appropriate and subject to numerous factors, including share price, trading volume, general market conditions, applicable law and other factors deemed relevant by the Company. Open market repurchases will be conducted according to the limitations in Rule 10b-18 under the Securities Exchange Act of 1934, and applicable legal requirements. The repurchase program does not obligate the Company to repurchase any dollar amount or number of shares. The program does not have an expiration date and may be suspended or discontinued at any time. The Company expects to use cash generated by operations and cash on hand to fund repurchases under the program
About Atmus Filtration Technologies Inc.
Atmus Filtration Technologies Inc. is a global leader in filtration and media solutions. For more than 65 years, the company has combined its culture of innovation with a rich history of designing and manufacturing filtration solutions. With a presence on six continents, Atmus serves customers across truck, bus, agriculture, construction, mining, marine and power generation vehicle and equipment markets, along with providing comprehensive aftermarket support and solutions. Headquartered in Nashville, Tennessee (U.S.), Atmus employs approximately 4,500 people globally who are committed to creating a better future by protecting what is important. Learn more at https://www.atmus.com.
# # #
Media Contacts
Investor relations:
Todd Chirillo
investor.relations@atmus.com
Media relations:
Keri Moenssen
media.inquiries@atmus.com
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