AZZ incorporated Quarterly Cash Dividend; Announces Share Repurchase Authorization; Issues FY 2013 Guidance; EPS Guidance Below Analysts' Estimates

AZZ incorporated announced that its Board of Directors, at its regularly scheduled meeting, has declared a quarterly cash dividend of $0.25 cents per share payable on February 17, 2012 to shareholders of record on February 3, 2012. The Company also announced that its Board has authorized the repurchase of up to 10% of the shares of the Company's outstanding shares of common stock, par value $1.00 per share. The share repurchase authorization does not have an expiration date, and the amount and prices paid for any future share purchases under the new authorization will be based on market conditions and other factors at the time of the purchase. For fiscal 2013, based upon the evaluation of information currently available to management, it is projecting 26th consecutive year of profitability. Earnings are estimated to be within the range of $3.25-$3.55 per diluted share, and revenues are estimated to be within the range of $475-$510 million for fiscal 2013. According to I/B/E/S Estimates, analysts were expecting the Company to report revenues of $505 million and EPS of $3.63 for fiscal 2013.