Griffon Corporation Declares Quarterly Dividend

Rhea-AI Summary

The Board of Directors of Griffon Corporation (NYSE: GFF) announced a quarterly cash dividend of $0.09 per share. This dividend will be payable on June 16, 2022 to shareholders on record by the close of business on May 19, 2022. Griffon operates through two segments: Consumer and Professional Products and Home and Building Products, which include well-known brands like Clopay and Hunter. The company aims to diversify and enhance shareholder value through strategic acquisitions.

Positive

• Declaring a quarterly cash dividend of $0.09 per share, signaling confidence in financial health.
• Diversified operations through two segments, potentially reducing risk and enhancing growth opportunities.

Negative

• None.

NEW YORK--(BUSINESS WIRE)-- The Board of Directors of Griffon Corporation (NYSE: GFF) (the “Company” or “Griffon”) yesterday declared a regular quarterly cash dividend of $0.09 per share. The dividend is payable on June 16, 2022 to shareholders of record as of the close of business on May 19, 2022.

About Griffon Corporation

Griffon is a diversified management and holding company that conducts business through wholly-owned subsidiaries. Griffon oversees the operations of its subsidiaries, allocates resources among them and manages their capital structures. Griffon provides direction and assistance to its subsidiaries in connection with acquisition and growth opportunities as well as in connection with divestitures. In order to further diversify, Griffon also seeks out, evaluates and, when appropriate, will acquire additional businesses that offer potentially attractive returns on capital.

Griffon conducts its operations through two reportable segments:

• Consumer and Professional Products (“CPP”) is a leading North American manufacturer and a global provider of branded consumer and professional tools; residential, industrial and commercial fans; home storage and organization products; and products that enhance indoor and outdoor lifestyles. CPP sells products globally through a portfolio of leading brands including AMES, since 1774, Hunter, since 1886, True Temper, and ClosetMaid.
• Home and Building Products conducts its operations through Clopay Corporation (“Clopay”). Founded in 1964, Clopay is the largest manufacturer and marketer of garage doors and rolling steel doors in North America. Residential and commercial sectional garage doors are sold through professional dealers and leading home center retail chains throughout North America under the brands Clopay, Ideal, and Holmes. Rolling steel door and grille products designed for commercial, industrial, institutional, and retail use are sold under the CornellCookson brand.

Classified as a discontinued operation, Defense Electronics conducts its operations through Telephonics Corporation ("Telephonics"), founded in 1933, a globally recognized leading provider of highly sophisticated intelligence, surveillance and communications solutions for defense, aerospace and commercial customers.

For more information on Griffon and its operating subsidiaries, please see the Company’s website at www.griffon.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220428005386/en/

Company Contact:

Brian G. Harris

SVP & Chief Financial Officer

Griffon Corporation

(212) 957-5000



Investor Relations Contact:

Michael Callahan

Managing Director

ICR Inc.

(203) 682-8311

Source: Griffon Corporation

FAQ

What is the dividend amount declared by Griffon Corporation?

Griffon Corporation declared a quarterly cash dividend of $0.09 per share.

When is the dividend payable for Griffon Corporation?

The dividend is payable on June 16, 2022.

What is the record date for the dividend payment from Griffon Corporation?

The record date for the dividend payment is May 19, 2022.

How does Griffon Corporation plan to enhance shareholder value?

Griffon Corporation seeks to enhance shareholder value through strategic acquisitions and diversified operations.