Franklin Electric Declares Payment Of Increased Quarterly Cash Dividend

Rhea-AI Summary

On January 24, 2022, Franklin Electric Co. (NASDAQ: FELE) announced a quarterly cash dividend of $0.195 per share, payable on February 17, 2022, to shareholders of record by February 3, 2022. This marks an 11% increase from the previous quarter’s dividend and signifies the 30th consecutive year of dividend growth for the company. This dividend increase reflects Franklin Electric's ongoing commitment to returning cash to its shareholders and underscores confidence in the company's future outlook.

Positive

• Declared a quarterly cash dividend of $0.195 per share.
• Represents an 11% increase from the prior quarterly dividend.
• 30th consecutive year of dividend increases, indicating strong financial stability.

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• None.

FORT WAYNE, Ind., Jan. 24, 2022 (GLOBE NEWSWIRE) -- Franklin Electric Co., Inc. (NASDAQ: FELE) announced today that its Board of Directors declared a quarterly cash dividend of $0.195 per share payable February 17, 2022, to shareholders of record on February 3, 2022. This represents an 11 percent increase from the prior quarterly dividend. This dividend increase will mark the 30th consecutive year that Franklin Electric has increased its dividend, demonstrating its commitment to returning cash to shareholders and confidence in the outlook of the business.

Franklin Electric is a global leader in the production and marketing of systems and components for the movement of water and fuel. Recognized as a technical leader in its products and services, Franklin Electric serves customers around the world in residential, commercial, agricultural, industrial, municipal, and fueling applications.

“Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995. Any forward-looking statements contained herein, including those relating to market conditions or the Company’s financial results, costs, expenses or expense reductions, profit margins, inventory levels, foreign currency translation rates, liquidity expectations, business goals and sales growth, involve risks and uncertainties, including but not limited to, risks and uncertainties with respect to general economic and currency conditions, various conditions specific to the Company’s business and industry, weather conditions, new housing starts, market demand, competitive factors, changes in distribution channels, supply constraints, effect of price increases, raw material costs, technology factors, integration of acquisitions, litigation, government and regulatory actions, the Company’s accounting policies, future trends, epidemics and pandemics, and other risks which are detailed in the Company’s Securities and Exchange Commission filings, included in Item 1A of Part I of the Company’s Annual Report on Form 10-K for the fiscal year ending December 31, 2020, Exhibit 99.1 attached thereto and in Item 1A of Part II of the Company’s Quarterly Reports on Form 10-Q. These risks and uncertainties may cause actual results to differ materially from those indicated by the forward-looking statements. All forward-looking statements made herein are based on information currently available, and the Company assumes no obligation to update any forward-looking statements.

Contact:
Jeffery L. Taylor
Franklin Electric Co., Inc.
260.824.2900

FAQ

What is the dividend amount for Franklin Electric (FELE)?

Franklin Electric has declared a quarterly cash dividend of $0.195 per share.

When is the dividend payment date for FELE?

The dividend is payable on February 17, 2022.

What is the record date for the dividend payment for Franklin Electric (FELE)?

The record date for the dividend is February 3, 2022.

How long has Franklin Electric (FELE) been increasing its dividend?

Franklin Electric has increased its dividend for 30 consecutive years.