Argan, Inc. increases quarterly dividend by 25% to $0.375 per common share

Argan, Inc. (NYSE: AGX) (“Argan” or the “Company”) today announced that on September 17, 2024, the Board of Directors declared a 25% increase in its quarterly cash dividend from $0.30 to $0.375 per common share. The dividend will be paid on October 31, 2024 to shareholders of record as of the close of business on October 23, 2024.

“We are pleased to announce today's dividend increase, which reflects the strength of our financial performance and balance sheet and is consistent with our commitment to creating value for our shareholders. This 25% increase to $0.375 per common share per fiscal quarter, or $1.50 annually, comes just one year after our last dividend increase and demonstrates our confidence in the business and our positive view of the growing pipeline of opportunities we see as the energy industry mobilizes to build the traditional gas-fired and renewable facilities needed to meet the expected increase in energy demand associated with data centers, increased manufacturing activity and electric vehicle charging. Argan has built a solid reputation as a reliable, energy-independent partner for the construction of all types of energy resources, and we believe we are well positioned to capitalize on the need to ensure our electrical grids are consistently supplied with high-quality energy.”