Insteel Industries Declares Quarterly Cash Dividend

Rhea-AI Summary

Insteel Industries Inc. (NYSE: IIIN) has announced a quarterly cash dividend of $0.03 per share, payable on September 30, 2022, to shareholders of record as of September 16, 2022. Headquartered in Mount Airy, North Carolina, Insteel is the nation's largest manufacturer of steel wire reinforcing products used in concrete construction. The company operates ten facilities across the United States, focusing primarily on nonresidential concrete product manufacturers.

Positive

• Declaration of a regular quarterly cash dividend of $0.03 per share.
• Dividend payment date set for September 30, 2022.

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• None.

MOUNT AIRY, N.C.--(BUSINESS WIRE)-- Insteel Industries Inc. (NYSE: IIIN) today announced that its board of directors declared a regular quarterly cash dividend of $0.03 per share of common stock payable on September 30, 2022, to shareholders of record as of September 16, 2022.

About Insteel

Insteel is the nation’s largest manufacturer of steel wire reinforcing products for concrete construction applications. Insteel manufactures and markets prestressed concrete strand and welded wire reinforcement, including engineered structural mesh, concrete pipe reinforcement and standard welded wire reinforcement. Insteel’s products are sold primarily to manufacturers of concrete products that are used primarily in nonresidential construction. Headquartered in Mount Airy, North Carolina, Insteel operates ten manufacturing facilities located in the United States.

Forward-Looking Statements and Risk Factors

This news release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Statements that are not descriptions of historical facts are forward-looking statements that are based on our current expectations and may include commentary on our plans, financial position, liquidity, and other business developments. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. Future results could differ materially from those described, and we do not undertake and specifically decline any obligation to correct or update any forward-looking statements. For further information regarding risk factors that could affect our operations and future results, refer to our reports filed with the U.S. Securities and Exchange Commission, including our annual report on Form 10-K for the year ended October 2, 2021.

IIIN - D

View source version on businesswire.com: https://www.businesswire.com/news/home/20220830005114/en/

Mark A. Carano

Senior Vice President,

Chief Financial Officer and Treasurer

Insteel Industries Inc.

(336) 786-2141

Source: Insteel Industries Inc.

FAQ

What is the dividend amount declared by Insteel Industries Inc. for September 2022?

Insteel Industries Inc. declared a quarterly cash dividend of $0.03 per share.

When will the dividend be paid to shareholders?

The dividend will be paid on September 30, 2022.

What is the record date for Insteel's September 2022 dividend?

The record date for the dividend is September 16, 2022.

How does the dividend impact Insteel Industries' shareholders?

The dividend provides a return on investment, signifying the company's ongoing commitment to rewarding its shareholders.

What type of products does Insteel Industries manufacture?

Insteel is the largest manufacturer of steel wire reinforcing products for concrete construction, including prestressed concrete strand and welded wire reinforcement.