Flexsteel Industries, Inc. Announces Quarterly Dividend

Rhea-AI Summary

Flexsteel Industries, Inc. (FLXS) declares a quarterly dividend of $0.15 per share, continuing its long history of dividend payments since 1938.

Positive

• Flexsteel Industries, Inc. (FLXS) announces a quarterly dividend of $0.15 per share.
• The dividend is payable on April 4, 2024, to shareholders of record as of March 26, 2024.
• This marks the 329th consecutive quarterly cash dividend for Flexsteel.
• Flexsteel has a strong track record of paying cash dividends on its common stock since 1938.

Negative

• None.

Insights

Financial Analyst

The declaration of a quarterly dividend by Flexsteel Industries represents a signal of stability and shareholder value proposition. The consistency of dividend payments since 1938, including the 329th consecutive payment, is a testament to the company's financial health and commitment to returning capital to shareholders. It's crucial to examine the dividend yield, which is calculated by dividing the annual dividends per share by the stock's price. This metric can be compared against industry averages and fixed income alternatives to assess the attractiveness of Flexsteel's stock as an income-generating investment.

Moreover, the dividend policy can also be reflective of the company's capital allocation strategy. A stable or increasing dividend may indicate that the company has a steady cash flow and a mature business model, whereas companies in growth phases might reinvest profits back into the business rather than pay out dividends. Investors should consider the payout ratio, the proportion of earnings paid out as dividends, to evaluate the sustainability of these payments in the long term.

Market Research Analyst

Flexsteel Industries' dividend announcement can also be viewed from a market sentiment perspective. Dividends are often seen as a barometer for a company's confidence in its future earnings. A consistent dividend history can enhance the company's reputation among investors as a reliable stock, potentially attracting a certain class of income-focused investors. This could have implications for the stock's liquidity and volatility.

However, it is important to contextualize this dividend announcement within the broader furniture industry. Factors such as consumer spending trends, housing market health and import tariffs can significantly impact the industry's performance. Understanding these macroeconomic indicators and industry-specific challenges is crucial for a holistic analysis of Flexsteel's financial outlook and the potential impact of this dividend declaration on its stock performance.

DUBUQUE, Iowa--(BUSINESS WIRE)-- Flexsteel Industries, Inc. (NASDAQ:FLXS), announced its Board of Directors declared a quarterly dividend of $0.15 per share, payable April 4, 2024, to shareholders of record as of March 26, 2024.

Flexsteel has paid cash dividends on its common stock each year since 1938. This is the 329^th consecutive quarterly cash dividend.

About Flexsteel

Flexsteel Industries, Inc., and Subsidiaries (the “Company”) is one of the largest manufacturers, importers, and marketers of residential furniture products in the United States. Product offerings include a wide variety of furniture such as sofas, loveseats, chairs, reclining rocking chairs, swivel rockers, sofa beds, convertible bedding units, occasional tables, desks, dining tables and chairs, kitchen storage, bedroom furniture, and outdoor furniture. A featured component in most of the upholstered furniture is a unique steel drop-in seat spring from which the name “Flexsteel” is derived. The Company distributes its products throughout the United States through its e-commerce channel and direct sales force.

For more information, visit our website at http://www.flexsteel.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240305631206/en/

INVESTOR CONTACT:

Michael Ressler, Flexsteel Industries, Inc.

563-585-8116

investors@flexsteel.com

Source: Flexsteel Industries, Inc.

FAQ

What is the dividend amount declared by Flexsteel Industries, Inc. (FLXS)?

Flexsteel Industries, Inc. (FLXS) declared a quarterly dividend of $0.15 per share.

When will the dividend be payable to shareholders of Flexsteel Industries, Inc. (FLXS)?

The dividend will be payable on April 4, 2024, to shareholders of record as of March 26, 2024.

How long has Flexsteel Industries, Inc. (FLXS) been paying cash dividends on its common stock?

Flexsteel Industries, Inc. (FLXS) has been paying cash dividends on its common stock since 1938.

How many consecutive quarterly cash dividends has Flexsteel Industries, Inc. (FLXS) declared?

Flexsteel Industries, Inc. (FLXS) has declared its 329th consecutive quarterly cash dividend.