Franklin Electric Declares Payment of Increased Quarterly Cash Dividend
Franklin Electric Co. (NASDAQ: FELE) has announced a quarterly cash dividend of $0.225 per share, payable on February 16, 2023, to shareholders of record on February 2, 2023. This marks a significant 15% increase from the previous quarterly dividend and highlights the company's commitment to returning cash to shareholders. This increase will be the 31st consecutive year of dividend growth for Franklin Electric, reflecting confidence in its business outlook, according to CEO Gregg Sengstack.
Franklin Electric is recognized globally for its water and fuel movement systems and components.
- Dividend increase to $0.225 per share, a 15% rise.
- 31st consecutive year of dividend growth.
- Demonstrates strong commitment to returning cash to shareholders.
- None.
FORT WAYNE, Ind., Jan. 23, 2023 (GLOBE NEWSWIRE) -- Franklin Electric Co., Inc. (NASDAQ: FELE) announced today that its Board of Directors declared a quarterly cash dividend of
“This dividend increase will mark the 31st 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,” commented Gregg Sengstack, Franklin Electric’s Chairperson and Chief Executive Officer.
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, 2021, 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 declared by Franklin Electric (FELE)?
When will the dividend be paid to shareholders of FELE?
How much has Franklin Electric increased its dividend this time?
How many years has Franklin Electric increased its dividends consecutively?
Why is the dividend increase significant for FELE shareholders?
