Burnham Holdings, Inc. Declares Dividend, Payable on March 13, 2020; Announces Executive Changes
February 20, 2020 at 07:09 pm
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At its meeting on February 20, 2020, Burnham Holdings, Inc.'s Board of Directors declared a quarterly common stock dividend of $0.22 per share, payable on March 13, 2020, with a record date of March 6, 2020.
The Company has recently announced several important executive changes that will become effective as of the Annual Meeting, April 27, 2020. Robert P. Newcomer, Chairman of the Board, will retire from the Board after serving 18 years in a variety of Board positions; including the last 2 years as Board Chairman. George W. Hodges was elected the new Chairman of the Board, effective April 27, 2020. Mr. Hodges has served as a Director of the Company since 2006, serving on several Board committees, including the Audit Committee which he currently Chairs, as well as the Nominating Committee. Also effective April 27, 2020, Douglas S. Brossman has been named Vice Chairman of the Company. Mr. Brossman will also continue in his role as Chief Executive Officer where he will have responsibility for corporate matters, as well as overall strategy development and implementation.
Burnham Holdings, Inc. is a holding company of a group of subsidiaries that service the heating, ventilating, and air conditioning (HVAC) market segment. The Company's subsidiaries are domestic manufacturers of boilers and related HVAC products and accessories, including advanced control systems, furnaces, radiators, and air conditioning systems for residential, commercial, and industrial applications. Its residential subsidiaries provide interior comfort solutions for homes and small buildings. Its commercial heating applications include military bases, multi-unit residential buildings, health care, government, education, and hospital facilities. Its industrial applications include any project where steam or hot water is needed. Its product offerings include a range of cast iron, stainless steel, fire-tube, water-tube, and copper-tube boilers, as well as boiler room accessories, for commercial and industrial markets.