Insteel Industries Declares Quarterly Cash Dividend

Rhea-AI Summary

Insteel Industries Inc. (NYSE: IIIN) declared a quarterly cash dividend of $0.03 per share on May 18, 2021. This dividend is payable on June 25, 2021 to shareholders on record as of June 11, 2021. Insteel is the largest manufacturer of steel wire reinforcing products for the concrete construction industry, operating ten facilities across the U.S. The company focuses on producing prestressed concrete strands and welded wire reinforcement primarily for nonresidential construction.

Positive

• Quarterly cash dividend of $0.03 per share, increasing shareholder income.
• Demonstrates company confidence and commitment to returning value to shareholders.

Negative

• None.

MOUNT AIRY, N.C., May 18, 2021 /PRNewswire/ -- Insteel Industries Inc. (NYSE: IIIN) today announced that its board of directors declared a quarterly cash dividend of $0.03 per share on the Company's common stock payable on June 25, 2021 to shareholders of record as of June 11, 2021. 

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 and concrete contractors for use, primarily, in nonresidential construction applications. Headquartered in Mount Airy, North Carolina, Insteel operates ten manufacturing facilities located in the United States.

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SOURCE Insteel Industries Inc.

FAQ

What is the dividend amount declared by Insteel Industries?

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

When is the dividend payment date for Insteel Industries?

The dividend payment date is June 25, 2021.

What is the record date for the dividend from Insteel Industries?

The record date for the dividend is June 11, 2021.

How often does Insteel Industries pay dividends?

Insteel Industries pays dividends quarterly.

Is the dividend payment sustainable for Insteel Industries?

The sustainability of the dividend would depend on Insteel's financial performance and market conditions.