Hurco Companies announces suspension of quarterly cash dividend

Hurco Companies’ Board of Directors elected to temporarily suspend the Company’s regular quarterly cash dividend on its common stock, effective immediately. The decision comes as the Company seeks to enhance its financial flexibility and improve its ability to manage market volatility while focusing on strengthening its balance sheet, reinvesting in the Company’s core business and research and development related to emerging technologies, and returning value to shareholders via the appropriate channels in both the near and long-term. Previously during Hurco’s current fiscal year ending October 31, 2024, the Company paid two quarterly cash dividends of $0.16 per share on its common stock – one on April 12, 2024, to shareholders of record as of close of business on March 29, 2024, and one on January 16, 2024, to shareholders of record as of close of business on January 2, 2024. The Board intends to closely monitor market conditions and the Company’s cash flows, and will continue to evaluate potential future cash dividends, but there can be no assurance that the Company will resume the payment of cash dividends.