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 30, 2018
ASTEC INDUSTRIES, INC.
(Exact name of registrant as specified in its charter)
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Tennessee
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001-11595
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62-0873631
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(State or other jurisdiction
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(Commission
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(IRS Employer
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of incorporation)
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File Number)
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Identification No.)
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1725 Shepherd Rd., Chattanooga, TN
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(Address of principal executive offices)
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Registrant's telephone number, including area code: (423) 899-5898
N/A
(Former name or former address, if changed since last report.)
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 (see General Instruction A.2. below):
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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))
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Indicate by check mark whether the registrant is an emerging growth company as defined in 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).
Emerging growth company ☐
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. ☐
On July 30, 2018, Astec Industries, Inc. (the Company) reported that the Board of Directors of Astec Industries, Inc. (the "Company") had on July 29, 2018 declared a quarterly cash dividend of eleven cents ($0.11) per share of Company common stock to be paid on or after August 30, 2018 to the Company's common shareholders of record as of August 13, 2018 and approved a share repurchase program authorizing the Company to repurchase up to $150 million of its common stock.
Under the share repurchase plan, the Company may purchase common stock in open market transactions, block or privately negotiated transactions, and may from time to time purchase shares pursuant to a trading plan in accordance with Rule 10b5-1 and Rule 10b-18 under the Securities Exchange Act of 1934, as amended, or by any combination of such methods. The number of shares to be purchased and the timing of the purchases are based on a variety of factors. No time limit was set for completion of repurchases under the authorization and the program may be suspended or discontinued at any time.
A copy of the press release issued by the Company is attached as Exhibit 99.1.
Item 9.01. Financial Statements and Exhibits
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99.1
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Press release dated July 30, 2018 issued by the Company
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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 hereunto duly authorized.
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Astec Industries, Inc.
(Registrant)
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Date: July 30, 2018
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By:
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/s/ David C. Silvious
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David C. Silvious
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Chief Financial Officer,
Vice President and Treasurer
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EXHIBIT INDEX
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99.1
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Press release dated July 30, 2018 issued by the Company
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