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Hurco Announces Dollars Dividend & Share Repurchase System Nasdaq:HURC

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INDIANAPOLIS, March 12, 2021 (Globe NEWSWIRE) — Hurco Corporations, Inc. (Nasdaq Worldwide Pick out Current market: HURC) now introduced that its Board of Administrators accepted payment of a money dividend of $.14 per share of popular inventory. The dividend will be paid out on April 12, 2021, to shareholders of document as of shut of enterprise on March 29, 2021. Potential declarations of dividends are subject to approval of the Board of Directors and might be altered as business enterprise wants or current market conditions alter.

Also, today, Hurco announced that its Board of Administrators approved a share repurchase system in an mixture amount of money of up to $7. million. Repurchases less than the method might be created in the open sector or as a result of privately-negotiated transactions from time to time via March 10, 2023, subject to relevant legislation and polices. The plan may perhaps be amended, suspected or discontinued at any time and does not dedicate Hurco to repurchase any shares of popular inventory.

Michael Doar, Govt Chairman, stated, “Hurco’s dividend and share repurchase plan announcements these days reinforce the company’s balanced solution to cash allocation technique – a system that prioritizes accretive progress and strategic acquisitions, but also recognizes the relevance of a potent balance sheet and liquidity place and the capability to return benefit to shareholders, when appropriate. We continue being fully commited to analyzing strategic acquisition options and continue on to imagine that economic downturns signify an prospect to get organizations, at excellent benefit.”

Hurco Businesses, Inc. is an worldwide, industrial know-how firm that sells its a few manufacturers of personal computer numeric handle (“CNC”) machine equipment to the globally metallic chopping and metal forming field. Two of the Company’s brand names of equipment instruments, Hurco and Milltronics, are equipped with interactive controls that incorporate computer software that is proprietary to every respective brand name. The Corporation layouts these controls and develops the software. The third brand name of CNC device applications, Takumi, is equipped with industrial controls that are produced by third parties, which permits the shopper to choose the sort of command extra to the Takumi CNC equipment instrument. The Firm also generates significant-benefit device instrument elements and add-ons and presents automation methods that can be integrated with any machine tool. The close marketplaces for the Firm’s goods are impartial job shops, limited-operate manufacturing operations within huge organizations, and producers with creation-oriented operations. The Company’s customers manufacture precision pieces, resources, dies, and/or molds for industries these types of as aerospace, defense, health-related products, electricity, transportation and computer system machines. The Company is centered in Indianapolis, Indiana, with production functions in Taiwan, Italy, the U.S., and China, and sells its items via direct and indirect sales forces throughout the Americas, Europe, and Asia. The Firm has gross sales, application engineering guidance and service subsidiaries in China, England, France, Germany, India, Italy, the Netherlands, Poland, Singapore, the U.S., and Taiwan. Net Site: www.hurco.com

Selected statements in this news launch are ahead-on the lookout statements that include regarded and unknown risks, uncertainties and other elements that might result in our true effects, functionality, or achievements to be materially different from any potential benefits, functionality or achievements expressed or implied by this sort of forward-hunting statements. These aspects contain, among the other folks, the impact of the COVID-19 pandemic and other community overall health epidemics on the world-wide economic system, the cyclical character of the device resource market, modifications in basic economic and organization ailments that affect demand for our items, the risks of our international operations, governmental steps and initiatives, which include import and export restrictions and tariffs, fluctuations in international forex trade premiums, innovations by competitors, the United Kingdom’s withdrawal from the European Union (Brexit), our capacity to develop new goods and extend solution offerings, the means to shield our intellectual property, top quality and supply general performance by our suppliers, raises in costs of raw elements, loss of important personnel, our ability to effectively combine acquisitions, failure to comply with info privateness and stability laws, breaches of our network and process protection measures, obsolescence of stock or impairment of assets thanks to modifications in technological know-how or industry demand from customers, detrimental or unforeseen tax penalties, adjustments in the LIBOR amount, and other dangers and uncertainties reviewed much more thoroughly under the caption “Risk Factors” in our filings with the Securities and Trade Fee. We expressly disclaim any obligation to update or revise any forward-looking statements, no matter if as a final result of new details, long term situations or if not.

Get hold of: Sonja K. McClelland
  Government Vice President, Treasurer, & Main Financial Officer

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