JBT Corporation Declares Quarterly Dividend and Announces Share Repurchase Program

CHICAGO, Aug. 10, 2018 /PRNewswire/ -- JBT Corporation (NYSE: JBT) today announced that its Board of Directors has declared a third quarter 2018 cash dividend of $0.10 per share of outstanding common stock. The dividend will be payable on September 4, 2018 to stockholders of record at the close of business on August 20, 2018.

The Board of Directors also authorized a new share repurchase plan of up to $30 million of the Company's common stock, effective January 1, 2019 through December 31, 2021.  The timing, price and volume of the repurchases will be based on market conditions, relevant securities laws and other factors.  The Company's existing plan will expire on December 31, 2018 in accordance with its terms, with all remaining share repurchase capacity under the existing plan expiring unutilized at such time.

JBT Corporation (NYSE: JBT) is a leading global technology solutions provider to high-value segments of the food & beverage industry with focus on proteins, liquid foods and automated system solutions. JBT designs, produces and services sophisticated products and systems for multi-national and regional customers through its FoodTech segment. JBT also sells critical equipment and services to domestic and international air transportation customers through its AeroTech segment. JBT Corporation employs approximately 5,900 people worldwide and operates sales, service, manufacturing and sourcing operations in more than 25 countries. For more information, please visit www.jbtc.com.

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SOURCE JBT Corporation