Dividend Power Score
A single, comprehensive score designed to measure the true strength of a company’s dividend.
This score combines three essential pillars of dividend quality:
Consistency – Measures how reliable the dividend has been over time, focusing on payment history, stability, and the absence of cuts or suspensions.
Payability – Assesses the company’s financial ability to sustain its dividend, taking into account cash flow, earnings coverage, balance sheet strength, and overall financial health.
Growth – Evaluates the long-term growth of both the dividend and the company’s share price, highlighting businesses that consistently increase payouts while creating shareholder value.
Higher scores identify companies that have historically delivered dependable income alongside sustained dividend growth and long-term capital appreciation.
Company Overview
CECO Environmental Corp. (CECO) is a global environmental solutions company that provides technology-driven products and services designed to help industrial customers improve air and water quality, optimize resource efficiency, and meet regulatory compliance requirements. The company operates primarily within the environmental engineering, industrial air quality, water treatment, and energy transition-related markets, serving customers in power generation, industrial manufacturing, chemical processing, refining, food and beverage, and infrastructure sectors.
CECO’s core business is organized around engineered systems and aftermarket services that address emissions control, fluid handling, separation, and filtration. Its revenue is driven by capital equipment projects, engineered-to-order systems, and recurring aftermarket parts and services. The company positions itself as a solutions provider rather than a commodity equipment supplier, leveraging engineering expertise, a diversified portfolio of technologies, and long-standing customer relationships. Founded in 1966, CECO has evolved through organic growth and acquisitions, transitioning from a niche air pollution control provider into a diversified environmental solutions platform.
Business Operations
CECO operates through multiple business segments that deliver specialized environmental technologies and services. Its primary operating segments include Industrial Process Solutions and Engineered Systems, which encompass air pollution control systems, fluid handling equipment, filtration systems, and separation technologies. These segments generate revenue through project-based system sales, equipment manufacturing, installation, and higher-margin aftermarket services such as spare parts, retrofits, and maintenance.
The company conducts operations across domestic and international markets, with manufacturing, engineering, and service capabilities in North America, Europe, and Asia. CECO controls proprietary technologies related to thermal oxidizers, dampers, expansion joints, filtration systems, and pump solutions. Its operating structure includes several subsidiaries and brands, such as Effox-Flextor, Hamon Research-Cottrell, PMFG, Burgess-Aarding, and GPE Scientific, which function as specialized business units within the broader CECO platform.
Strategic Position & Investments
CECO’s strategic direction emphasizes profitable growth through a combination of organic expansion, operational efficiency, and targeted acquisitions. The company has prioritized increasing its aftermarket and service revenue base to enhance earnings stability and margins, while also aligning its portfolio with long-term environmental and sustainability trends. Growth initiatives focus on emissions reduction, energy efficiency, water reuse, and infrastructure modernization.
Historically, CECO has executed a series of acquisitions to broaden its technology offerings and end-market exposure, including the acquisitions of Effox-Flextor, PMFG, and Burgess-Aarding, which strengthened its position in industrial air systems and filtration. The company continues to invest in emerging environmental technologies tied to decarbonization, renewable fuels, and advanced industrial processing, while divesting non-core or underperforming assets to streamline operations.
Geographic Footprint
CECO is headquartered in North America, with its corporate headquarters located in the United States. The company maintains a significant operational presence across North America, Europe, and Asia, supported by manufacturing facilities, engineering centers, and sales offices. These regions represent CECO’s primary revenue-generating markets and provide access to a diversified industrial customer base.
Internationally, CECO serves customers in over 25 countries, with established operations in Western Europe, China, India, and Southeast Asia. Its global footprint enables participation in large-scale infrastructure and industrial projects, as well as localized aftermarket support. CECO’s geographic diversification helps mitigate regional economic cycles and supports its strategy of serving multinational customers with consistent environmental compliance solutions worldwide.
Leadership & Governance
CECO is led by an executive team with experience in industrial manufacturing, environmental engineering, and global operations. Leadership emphasizes operational discipline, customer-centric innovation, and strategic capital allocation, with a focus on long-term value creation and regulatory compliance. The company operates under a governance framework aligned with public company standards and oversight by an independent board of directors.
Key members of CECO’s leadership team include:
- Todd R. Gleason – Chief Executive Officer
- Kory M. Kagel – Chief Financial Officer
- Richard F. Blum – President, Industrial Process Solutions
- Daniel E. Scaperoth – President, Engineered Systems
- Scott W. Scudder – Chief Accounting Officer
The leadership team’s strategic vision centers on positioning CECO as a leading provider of engineered environmental solutions that support industrial efficiency, sustainability, and regulatory compliance across global markets.