CSW Industrials Increases Quarterly Dividend by 12% to $0.19 Per Share

Rhea-AI Summary

The Board of Directors of CSW Industrials has announced a quarterly cash dividend of $0.19 per share, marking a 12% increase from the previous quarter's dividend. This dividend is payable on May 12, 2023, to shareholders of record by the close of business on April 28, 2023. The increase reflects the company's strong balance sheet and cash flow, highlighting its commitment to returning value to shareholders, with a total of $120.5 million returned over the past four years. CSW Industrials operates in three segments: Contractor Solutions, Engineered Building Solutions, and Specialized Reliability Solutions.

Positive

• Dividend increased by $0.02 per share, representing a 12% rise.
• Total cash returned to shareholders over the past four years is $120.5 million.
• Strong balance sheet and cash flow reported by the company.

Negative

• None.

DALLAS, April 14, 2023 (GLOBE NEWSWIRE) -- The Board of Directors of CSW Industrials, Inc. (Nasdaq: CSWI) today declared a regular quarterly cash dividend of $0.19 per share. This represents an increase of $0.02 per share, or approximately 12%, as compared to the declared dividend in the prior quarter. The dividend is payable on May 12, 2023, to shareholders of record as of the close of business on April 28, 2023.

“We are pleased to announce another increase in our quarterly dividend, reflecting our strong balance sheet, cash flows and profitability. Over the past four years, we have returned $120.5 million in cash to our shareholders, while also growing organically and through acquisitions,” said Joseph B. Armes, CSW Industrials Chairman, President, and Chief Executive Officer.

Details
Dividend Amount:	$0.19
Record Date:	April 28, 2023
Payable Date:	May 12, 2023

About CSW Industrials
CSW Industrials is a diversified industrial growth company with industry-leading operations in three segments: Contractor Solutions, Engineered Building Solutions, and Specialized Reliability Solutions. CSWI provides niche, value-added products with two essential commonalities: performance and reliability. The primary end markets we serve with our well-known brands include: HVAC/R, plumbing, general industrial, architecturally-specified building products, energy, mining, and rail. For more information, please visit www.cswindustrials.com.

Safe Harbor Statement
This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. Words or phrases such as "may," "should," "expects," "could," "intends," "plans," "anticipates," "estimates," "believes," "forecasts," "predicts" or other similar expressions are intended to identify forward-looking statements, which include, without limitation, earnings forecasts, effective tax rate, statements relating to our business strategy and statements of expectations, beliefs, future plans and strategies and anticipated developments concerning our industry, business, operations and financial performance and condition.

The forward-looking statements included in this press release are based on our current expectations, projections, estimates and assumptions. These statements are only predictions, not guarantees. Such forward-looking statements are subject to numerous risks and uncertainties that are difficult to predict. These risks and uncertainties may cause actual results to differ materially from what is forecast in such forward-looking statements, and include, without limitation, the risk factors described from time to time in our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K.

All forward-looking statements included in this press release are based on information currently available to us, and we assume no obligation to update any forward-looking statement except as may be required by law.

Investor Relations
James E. Perry
Executive Vice President & Chief Financial Officer
214-834-3777
james.perry@cswi.com

FAQ

What is the new dividend amount for CSWI shares?

The new dividend amount is $0.19 per share.

When is the dividend payable date for CSWI?

The dividend is payable on May 12, 2023.

What is the record date for the upcoming dividend of CSWI?

The record date is April 28, 2023.

How much cash has CSWI returned to shareholders in the past four years?

CSWI has returned $120.5 million in cash to shareholders over the past four years.

What was the percentage increase of the dividend compared to the last quarter?

The dividend increased by approximately 12% compared to the last quarter.