Franklin Electric Declares Payment of Quarterly Cash Dividend

Rhea-AI Summary

Franklin Electric Co., Inc. (NASDAQ: FELE) has declared a quarterly cash dividend of $0.225 per share, scheduled for payment on May 18, 2023, to shareholders on record as of May 4, 2023. This reflects the company's ongoing commitment to providing returns to its investors. As a global leader in producing and marketing systems for the movement of water and fuel, Franklin Electric serves various sectors including residential, commercial, agricultural, industrial, municipal, and fueling applications. The firm maintains a reputation for technical leadership in its industry, positioning itself strategically in the market.

Positive

• Quarterly cash dividend of $0.225 per share announced for May 2023 payment.

Negative

• Risks and uncertainties related to economic conditions and the company's operational environment noted.

FORT WAYNE, Ind., April 24, 2023 (GLOBE NEWSWIRE) -- Franklin Electric Co., Inc. (NASDAQ: FELE) announced today that its Board of Directors declared a quarterly cash dividend of $0.225 per share payable May 18, 2023, to shareholders of record on May 4, 2023.

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, 2022, 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) for May 2023?

The dividend amount declared is $0.225 per share.

When will the dividend for FELE be paid?

The dividend will be paid on May 18, 2023.

Who will receive the dividend from Franklin Electric?

Shareholders of record as of May 4, 2023, will receive the dividend.

What are the risks mentioned in the press release for FELE?

The press release highlights various risks including economic conditions, market demand, and operational uncertainties.