DUBUQUE, Iowa — The Board of Directors of Flexsteel Industries approved a 10 percent increase in the company’s quarterly dividend by declaring $0.22 per share, payable Oct. 6 to shareholders of record as of Sept. 22.
This is the sixth increase since March 2009 when the dividend was $0.05 per share, an 18% compound annual growth rate. The Board of Directors emphasized their commitment to increase shareholder value through dividends based upon sustainable earnings per share.
Flexsteel has paid cash dividends on its common stock each year since 1938. This is the 303rd consecutive quarterly cash dividend. The company believes that its cash flow and operating income levels support the dividend increase.
SOURCE: Flexsteel Industries press release