October 09, 2002
AAR Suspends Quarterly Common Stock Dividend
WOOD DALE, Ill., /PRNewswire-FirstCall/ -- AAR (NYSE: AIR) announced today that its Board of Directors has suspended the Company's quarterly common stock dividend, at its regularly scheduled meeting on October 9. The Board of Directors will consider future dividends based upon improvement in the airline industry and the Company's financial performance.
Commenting on the change, AAR President and CEO David P. Storch said, "The Board suspended payment of dividends consistent with other actions taken by the Company to lower costs and preserve cash. Since September 1, we have reduced administrative and other overhead costs in excess of $8 million annually. This is in addition to other cost savings actions taken over the last twelve months. We remain extremely focused on cash generation and expect to continue to generate positive operating cash flow for the balance of the fiscal year."
Storch continued, "We are continuing to experience solid performance in our military business and are seeing an increase in major proposal requests from our airline customers. Although our financial results showed improvement for the first month of the second quarter versus the first month of the first quarter, we believe suspending the dividend is a prudent step at this time."
AAR is the leading provider of aftermarket support to the worldwide aviation/aerospace industry. Products and services include customized inventory management and logistics programs, encompassing supply, repair and manufacture of spare parts and systems. Headquartered in Wood Dale, Illinois, AAR serves commercial and government aircraft fleet operators and independent service customers throughout the world. Further information can be found at www.aarcorp.com.
This press release contains certain statements relating to future results, which are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Please also refer to the forward looking statement disclaimer under Item 7, entitled "Factors Which May Affect Future Results", included in the Company's May 31, 2002 Form 10-K. By providing forward looking statements, the Company assumes no obligation to update the forward looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.
SOURCE AAR CORP.
CONTACT: Timothy J. Romenesko, Vice President, Chief Financial Officer, of AAR, +1-630-227-2090, tromenesko@aarcorp.com
Related news
See all
September 30, 2025
AAR announces public offering of 3,000,000 shares of common stock
Wood Dale, Illinois — AAR CORP. (“AAR” or the “Company”) (NYSE: AIR), a leading provider of aviation services to commercial and government operators, MROs, and OEMs, announced today that it has commenced an underwritten registered public offering of 3,000,000 shares of its common stock. In addition, the Company intends to grant the underwriters a 30-day option to purchase up to an additional 450,000 shares of the Company’s common stock at the public offering price, less underwriting discounts and commissions.
September 30, 2025
AAR announces pricing of public offering of 3,000,000 shares of common stock
Wood Dale, Illinois – AAR CORP. (“AAR” or the “Company”) (NYSE: AIR), a leading provider of aviation services to commercial and government operators, MROs, and OEMs, announced today the pricing of an underwritten registered public offering of 3,000,000 shares of its common stock at a public offering price of $83.00 per share. The underwriters have a 30-day option to purchase up to an additional 450,000 shares from the Company at the public offering price. The Company estimates that the net proceeds from the offering, after deducting the underwriting discounts and commissions, will be approximately $239.0 million, or $274.9 million if the underwriters exercise their option to purchase additional shares in full. The shares are expected to be delivered on or about October 2, 2025, subject to customary closing conditions.
September 25, 2025
AAR acquires leading parts distributor ADI American Distributors
Wood Dale, Illinois — AAR CORP. (NYSE: AIR), a leading provider of aviation services to commercial and government operators, MROs, and OEMs, announced today it has acquired American Distributors Holding Co., LLC (ADI), a leading distributor of components and assemblies, for $146 million in an all cash transaction funded using the Company’s existing revolving credit facility. The acquisition immediately expands AAR’s new parts Distribution with new additional product lines and extensive OEM relationships. The business will become part of AAR’s Parts Supply segment.
