Argan, Inc. (AGX) files 8-K

Argan, Inc. files 8-K in a filing on Wednesday, Sep 11.

Item 5.02.  Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On September 10, 2019, the board of directors (the “Board”) of Argan, Inc. (“Argan” or the “Company”) appointed Mano Koilpillai to serve as a director on the Company’s Board until the Company’s 2020 Annual Meeting of Stockholders and until her successor has been elected and qualified or until her earlier resignation, death or removal.

Ms. Koilpillai has over 30 years of experience in Fortune 50 and private associations and corporations, including non-profit, international, consulting and government entities.  Ms. Koilpillai is the founder, president and chief executive officer of Dynamic Consulting and Accounting, LLC since September 2014.  Additionally, from September 2012 until August 2014, she served as chief financial officer for Defenders of Wildlife, a non-profit organization.

There is no understanding or arrangement between Ms. Koilpillai and any other person pursuant to which Ms. Koilpillai was appointed.

In connection with her service as a member of the Board, Ms. Koilpillai will be paid in accordance with the terms described in the section titled “Compensation of Directors” that begins on page 11 of the Company’s proxy statement that was filed with the Securities and Exchange Commission on May 6, 2019, which description is incorporated herein by reference.

On September 11, 2019, Argan announced that on September 10, 2019, the Company’s Board declared a regular quarterly cash dividend in the amount of $0.25 per share of common stock, payable on October 31, 2019 to stockholders of record at the close of business on October 23, 2019.

A copy of Argan’s press release announcing the dividend is attached to this report as Exhibit 99.1 and is incorporated herein by reference.

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

The stock increased 3.36% or $1.42 during the last trading session, reaching $43.73. About 112,243 shares traded. Argan, Inc. (NYSE:AGX) has risen 7.02% since September 12, 2018 and is uptrending. It has outperformed by 7.02% the S&P500.

Argan, Inc., through its subsidiaries, provides engineering, procurement, construction, commissioning, activities management, maintenance, project development, technical, and consulting services to the power generation and renewable energy markets. The company has market cap of $667.49 million. The firm operates through Power Industry Services, Industrial Fabrication and Field Services, and Telecommunications Infrastructure Services divisions. It has a 432.97 P/E ratio. The Power Industry Services segment offers engineering, procurement, and construction contracting services to the owners of alternative energy facilities, such as biomass plants, wind farms, and solar fields; and design, construction, project management, start-up, and operation services for 44 projects with approximately 15 gigawatts of power-generating capacity.

More notable recent Argan, Inc. (NYSE:AGX) news were published by: Seekingalpha.com which released: “Argan’s Gemma Power to move ahead with 1.8 GW Ohio power project – Seeking Alpha” on August 29, 2019, also Finance.Yahoo.com with their article: “Is Argan, Inc.’s (NYSE:AGX) 11% Return On Capital Employed Good News? – Yahoo Finance” published on June 07, 2019, Finance.Yahoo.com published: “Is Argan, Inc.’s (NYSE:AGX) ROE Of 13% Impressive? – Yahoo Finance” on May 03, 2019. More interesting news about Argan, Inc. (NYSE:AGX) were released by: Finance.Yahoo.com and their article: “Should You Take Comfort From Insider Transactions At Argan, Inc. (NYSE:AGX)? – Yahoo Finance” published on July 12, 2019 as well as Finance.Yahoo.com‘s news article titled: “Here is What Hedge Funds Think About Argan, Inc. (AGX) – Yahoo Finance” with publication date: June 29, 2019.

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