Insteel Industries Declares Quarterly Cash Dividend

Rhea-AI Summary

Insteel Industries Inc. (NYSE: IIIN) has declared a quarterly cash dividend of $0.03 per share, payable on June 24, 2022, to shareholders on record as of June 10, 2022. Insteel is the largest manufacturer of steel wire products for concrete construction in the U.S., operating ten manufacturing facilities. The company focuses on prestressed concrete strand and welded wire reinforcement for nonresidential construction. Forward-looking statements are included in the release, highlighting the inherent risks in financial predictions.

Positive

• Quarterly cash dividend of $0.03 per share declared.
• Company is the largest U.S. manufacturer of steel wire products, indicating strong market position.

Negative

• Forward-looking statements include inherent risks and uncertainties in future performance.

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 June 24, 2022, to shareholders of record as of June 10, 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/20220524005128/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 June 2022?

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

When will the dividend payment be made to shareholders?

The dividend will be payable on June 24, 2022.

What is the record date for Insteel's dividend?

The record date for the dividend is June 10, 2022.

What are the main products manufactured by Insteel Industries Inc.?

Insteel manufactures steel wire reinforcing products, including prestressed concrete strand and welded wire reinforcement.

Is Insteel Industries financially stable?

The press release includes forward-looking statements which indicate risks and uncertainties that may affect future financial performance.