Insteel Industries Declares Quarterly Cash Dividend
Insteel Industries (NYSE: IIIN) announced that its board of directors has declared a regular quarterly cash dividend of $0.03 per share. This dividend will be payable on June 28, 2024, to shareholders recorded as of June 14, 2024.
Insteel is the largest U.S. manufacturer of steel wire reinforcing products for concrete construction, offering a range of products including prestressed concrete strand and welded wire reinforcement. The company operates ten manufacturing facilities across the United States and primarily serves nonresidential construction markets.
- Declaration of a quarterly cash dividend of $0.03 per share, indicating steady shareholder returns.
- Payment date set for June 28, 2024, providing a clear timeline for investors.
- Largest U.S. manufacturer of steel wire reinforcing products, showing strong market position.
- Ten manufacturing facilities in the U.S., indicating substantial production capacity.
- Dividend of $0.03 per share may be considered low by some investors seeking higher returns.
- The specific impact of economic conditions on nonresidential construction markets not addressed in the PR.
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
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
IIIN - D
View source version on businesswire.com: https://www.businesswire.com/news/home/20240521765291/en/
Scot Jafroodi
Vice President,
Chief Financial Officer and Treasurer
Insteel Industries Inc.
(336) 786-2141
Source: Insteel Industries Inc.
FAQ
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