FSI Announces Five Cent Special Dividend to be Paid May 16 to Shareholders of Record April 28

Rhea-AI Summary

Flexible Solutions International (NYSE-AME: FSI) announced a special dividend of five cents per share, payable on May 16, 2023, to shareholders on record as of April 28, 2023. The company’s current financial health allows it to reward shareholders despite this being a non-regular dividend. CEO Dan O'Brien indicated that the board will continue to assess retained earnings and capital needs with the aim of growing the company and potentially declaring dividends in the future. Flexible Solutions specializes in biodegradable polymers for various applications including oil extraction, and water and energy conservation technologies.

Positive

• Declaration of a special dividend of five cents per share.
• Strong financial condition allowing for dividend distribution.

Negative

• This is a special dividend, indicating potential uncertainty about future regular dividends.

VICTORIA, BRITISH COLUMBIA, April 14, 2023 (GLOBE NEWSWIRE) -- FLEXIBLE SOLUTIONS INTERNATIONAL, INC. (NYSE-AMERICAN: FSI), is the developer and manufacturer of biodegradable polymers for oil extraction, detergent ingredients and water treatment as well as crop nutrient availability chemistry. Flexible Solutions also manufactures biodegradable and environmentally safe water and energy conservation technologies. Today the Company announces that it will pay a five cent per share special dividend on May16^th 2023 to shareholders of record on April 28^th 2023.

Mr. Dan O'Brien states, "We are pleased that our current financial condition allows us to dividend profits to shareholders. However, this is a special dividend; not a regular dividend.” Mr. O’Brien continues, “The FSI Board and management will continue to monitor retained earnings and capital needs with the goals of growing the Company and declaring dividends when appropriate."

About Flexible Solutions International

Flexible Solutions International, Inc. (www.flexiblesolutions.com), based in Victoria, British Columbia, is an environmental technology company. The Company’s NanoChem Solutions Inc. subsidiary specializes in biodegradable, water-soluble products utilizing thermal polyaspartate (TPA) biopolymers. TPA beta-proteins are manufactured from the common biological amino acid, L-aspartic and have wide usage including scale inhibitors, detergent ingredients, water treatment and crop enhancement. Along with TPA, this division started producing other crop enhancement products as well. The other divisions manufacture energy and water conservation products for drinking water, agriculture, industrial markets and swimming pools throughout the world. FSI is the developer and manufacturer of WaterSavr^TM, the world’s first commercially viable water evaporation retardant. WaterSavr^TM reduces evaporation by up to 30% on reservoirs, lakes, aqueducts, irrigation canals, ponds and slow moving rivers. Heatsavr^TM, a “liquid blanket” evaporation retardant for the commercial swimming pool and spa markets, reduces energy costs by 15% to 40% and can result in reduced indoor pool humidity.

Safe Harbor Provision

The Private Securities Litigation Reform Act of 1995 provides a "Safe Harbor" for forward-looking statements. Certain of the statements contained herein, which are not historical facts, are forward looking statement with respect to events, the occurrence of which involve risks and uncertainties. These forward-looking statements may be impacted, either positively or negatively, by various factors. Information concerning potential factors that could affect the company is detailed from time to time in the company's reports filed with the Securities and Exchange Commission.

Flexible Solutions International
6001 54^th Ave, Taber, Alberta, CANADA T1G 1X4

Company Contacts
Jason Bloom
Toll Free: 800.661.3560
Fax: Fax: 403.223.2905
Email: info@flexiblesolutions.com

If you have received this news release by mistake or if you would like to be removed from our update list please reply to: info@flexiblesolutions.com

To find out more information about Flexible Solutions and our products please visit www.flexiblesolutions.com

FAQ

What is the dividend amount for FSI in May 2023?

The dividend amount is five cents per share.

When will the special dividend for FSI be paid?

The special dividend will be paid on May 16, 2023.

What is the record date for FSI's special dividend?

The record date is April 28, 2023.

Is the FSI dividend regular or special?

The dividend announced is a special dividend, not a regular dividend.

What factors will influence future dividends for FSI?

Future dividends will depend on retained earnings and capital needs.