Franklin Electric Declares Payment of Quarterly Cash Dividend

Rhea-AI Summary

Franklin Electric Co., Inc. (NASDAQ: FELE) declares a quarterly cash dividend of $0.225 per share, payable on August 17, 2023, to shareholders of record on August 3, 2023. The company is a global leader in water and fuel movement systems and components, serving various sectors. Franklin Electric is recognized for its technical leadership in products and services.

Positive

• The declaration of a quarterly cash dividend demonstrates the company's commitment to returning value to its shareholders.
• Franklin Electric's global leadership in water and fuel movement systems and components positions it well for continued growth and market dominance.

Negative

• None.

FORT WAYNE, Ind., July 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 August 17, 2023, to shareholders of record on August 3, 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 declared by Franklin Electric Co., Inc. (NASDAQ: FELE)?

The company declared a quarterly cash dividend of $0.225 per share.

When is the dividend payable and to whom?

The dividend is payable on August 17, 2023, to shareholders of record on August 3, 2023.

What are the key areas Franklin Electric serves?

Franklin Electric serves customers in residential, commercial, agricultural, industrial, municipal, and fueling applications.

What is Franklin Electric recognized for?

The company is recognized as a technical leader in its products and services.

What is the 'Safe Harbor' statement mentioned in the press release?

The 'Safe Harbor' statement refers to the company's compliance with the Private Securities Litigation Reform Act of 1995.