Driving Growth and Transformation in Agriculture Technology
Disciplined and Balanced Approach to Capital Allocation
C+
•
Use of Cash from Q1 2020 through Q1 2023: $1,134 Million
Growing Our Business & Fueling Innovation
$330M
29% Capital
Expenditures
~45% Growth, ~45%
Maintenance and ~10% Digital
• Investments to support
strategic growth initiatives,
•
digital customer experience,
Industry 4.0 advanced
.
$434M
38% Acquisitions
Strategic fit: technology /
capability expansion, portfolio
enhancement, high-growth
businesses, geographic
expansion
Focus on revenue growth and
high ROIC
manufacturing & ESG
Prioritize capital projects with
high ROIC
•
Rigor around due diligence
and integration
12%
Returning Cash To Shareholders
$136M
Dividends
Committed to supporting and
growing dividend
Payout ratio target: 15% of
earnings
Current payout: ~17%
60% dividend growth in the
past 3 years
•
21%
$234M
Share
Repurchases
Opportunistic approach,
supported by free cash flow
and minimum annual amount
to offset dilution
•
~$370M remains on current
authorization
Capital Allocation Framework Aligned with Growth Strategy and Shareholder Value Creation
CONSERVING RESOURCES. IMPROVING LIFE." Valmont
1 Includes $66M purchase of non-controlling interest of AgSense, Convert Italia, Torrent, and West Coast Engineering
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