CSW Industrials Increases Quarterly Dividend by 13% to $0.17 Per Share and Provides an Update on Share Repurchases

Rhea-AI Summary

The Board of Directors of CSW Industrials has announced a quarterly cash dividend of $0.17 per share, increasing by $0.02 or 13% from the previous quarter. This dividend will be payable on May 13, 2022, to shareholders on record by April 29, 2022. Additionally, during the fiscal 2022 fourth quarter, CSWI repurchased 121,940 shares for $14.0 million under its $100 million buyback program, cumulatively returning $121.1 million to shareholders since 2018.

Positive

• Quarterly dividend increased by $0.02 to $0.17, enhancing shareholder value.
• Repurchase of 121,940 shares demonstrates commitment to returning capital to shareholders.
• Cumulative return of $121.1 million to shareholders since 2018 reflects solid financial management.

Negative

• None.

DALLAS, April 14, 2022 (GLOBE NEWSWIRE) -- The Board of Directors of CSW Industrials, Inc. (Nasdaq: CSWI) today declared a regular quarterly cash dividend of $0.17 per share. This represents an increase of $0.02 per share, or approximately 13%, as compared to the declared dividend in the prior quarter. The dividend is payable on May 13, 2022, to shareholders of record as of the close of business on April 29, 2022.

During the fiscal 2022 fourth quarter, CSWI repurchased 121,940 shares for an aggregate purchase price of $14.0 million under its current $100 million share repurchase authorization announced on October 30, 2020. CSWI initiated the inaugural share repurchase program in fiscal 2018 third quarter and, since that time, has cumulatively returned $95.4 million to shareholders through the purchase of 1.5 million shares.

“We are pleased to announce another increase in our quarterly dividend and to provide an update on our share repurchase program, which together demonstrate our ongoing commitment to disciplined capital allocation. Over the past four years, we have returned $121.1 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:	$0.17
Record Date:	April 29, 2022
Payable Date:	May 13, 2022

About CSW Industrials
CSW Industrials is a growth-oriented, diversified industrial 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, electrical, 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
Adrianne D. Griffin
Vice President, Investor Relations, & Treasurer
214-489-7113
adrianne.griffin@cswi.com

FAQ

What is the new dividend amount for CSWI announced in April 2022?

The new quarterly dividend amount is $0.17 per share.

When is the dividend for CSWI payable?

The dividend is payable on May 13, 2022.

What was the share repurchase amount by CSWI in the fourth quarter of fiscal 2022?

CSWI repurchased 121,940 shares for an aggregate purchase price of $14.0 million.

How much has CSWI returned to shareholders through share repurchase programs since 2018?

CSWI has returned a cumulative total of $121.1 million to shareholders since 2018.

What is the record date for CSWI's dividend?

The record date for the dividend is April 29, 2022.