Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Bloomberg Customers

Lindsay to Buy Back Shares, Double Dividend as U.S. Sales Drop

Lindsay Corp., a manufacturer of irrigation equipment that farmers use to conserve water and energy, plans to buy back $100 million to $150 million in stock and said the company would double its dividend.

First-quarter fiscal 2014 revenue was almost unchanged from a year earlier as irrigation-equipment sales slid 4 percent in the period to $129.2 million, the Omaha, Nebraska-based company that acquired Claude Laval Corp. in August reported. U.S. irrigation revenue fell 18 percent from “drought-driven sales” last year while foreign irrigation revenues rose 32 percent, it said in a statement.

Total company revenue “remained at record levels in the first quarter while U.S. irrigation-market sales declined as anticipated” given the drop in agricultural commodity prices, Chief Executive Officer Rick Parod said in today’s statement.

“While we anticipate a decline from peak irrigation revenues for the near-term, drivers for the company’s markets of population growth, expanded food production and efficient water use support our expectation for long-term growth,’’ Parod said. Lindsay’s shares are almost unchanged from a year ago. The quarterly dividend will double to 26 cents a share.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.