Knoll Declares Cash Dividend

Rhea-AI Summary

Knoll, Inc. (NYSE: KNL) announced a quarterly cash dividend increase to $0.06 per share, up 50% from the previous $0.04, payable on September 30, 2020, to shareholders on record by September 15, 2020. CEO Andrew Cogan attributed this decision to a strengthened balance sheet and improved performance driven by a growing mix of work-from-home and residential offerings. The dividend's declaration depends on various factors, including net income and financial stability.

Positive

• Dividend increased by 50% from $0.04 to $0.06 per share.
• Strengthened balance sheet indicates improved financial health.
• Performance stabilization attributed to work-from-home and residential offerings.

Negative

• None.

EAST GREENVILLE, Pa., Aug. 04, 2020 (GLOBE NEWSWIRE) -- Knoll, Inc. (NYSE:KNL), a constellation of design-drive brands for the workplace and home, today announced that the Company's Board of Directors declared a quarterly cash dividend of $0.06 per share payable September 30, 2020 to shareholders of record on September 15, 2020. 

“With our strengthened balance sheet and stabilizing performance, thanks to our increasing mix of work from home and residential offerings, we are pleased to increase our third quarter dividend by 50%, from $0.04 to $0.06 per share,” commented Knoll Chairman and CEO, Andrew Cogan.

The declaration and payment of dividends is subject to the discretion of the Board of Directors and depends on various factors, including our net income, restrictions in our credit facility, financial position, cash requirements and other factors deemed relevant by our Board of Directors.  

About Knoll

Knoll, Inc. is a constellation of design-driven brands and people, working together with our clients to create inspired modern interiors.  Our internationally recognized portfolio includes furniture, textiles, leathers, lighting, accessories, and architectural and acoustical elements.  Our brands — Knoll Office, KnollStudio, KnollTextiles, KnollExtra, Spinneybeck | FilzFelt, Edelman Leather, HOLLY HUNT, DatesWeiser, Muuto, and Fully — reflect our commitment to modern design that meets the diverse requirements of high-performance workplaces and luxury interiors.  A recipient of the National Design Award for Corporate and Institutional Achievement from the Smithsonian's Cooper-Hewitt, National Design Museum, Knoll, Inc. is aligned with the U.S. Green Building Council and the Canadian Green Building Council and can help organizations achieve the Leadership in Energy and Environmental Design (LEED) workplace certification.  Our products can also help clients comply with the International Living Future Institute to achieve Living Building Challenge Certification, and with the International WELL Building Institute to attain WELL Building Certification.  Knoll, Inc. is the founding sponsor of the World Monuments Fund Modernism at Risk program.

Contacts

Investors:
Charles Rayfield 
Senior Vice President and Chief Financial Officer
Tel 215 679-1703
crayfield@knoll.com

Media:
David E. Bright
Senior Vice President, Communications
Tel 212 343-4135
dbright@knoll.com

FAQ

What is the new dividend amount for Knoll, Inc. (KNL)?

The new dividend amount for Knoll, Inc. (KNL) is $0.06 per share.

When will the dividend be paid to shareholders of KNL?

The dividend will be paid on September 30, 2020, to shareholders of record on September 15, 2020.

Why did Knoll increase its dividend in 2020?

Knoll increased its dividend due to a strengthened balance sheet and improved performance from a growing mix of work-from-home and residential offerings.

How often does Knoll declare dividends?

Knoll declares dividends quarterly, subject to Board approval and financial considerations.

What factors influence Knoll's decision to pay dividends?

Factors include net income, financial position, cash requirements, and restrictions in their credit facility.