Methode Electronics’ Board Approves Dividend Increase

Rhea-AI Summary

Methode Electronics, Inc. (NYSE: MEI) has declared a quarterly dividend of $0.14 per share, reflecting a 27% increase from the previous rate. The dividend will be paid on July 30, 2021, to stockholders of record by July 16, 2021. This increase underscores the company’s commitment to a balanced capital allocation strategy. Methode Electronics is recognized for its innovative solutions across various sectors, including automotive, industrial, and medical, with operations globally in North America, Europe, the Middle East, and Asia.

Positive

• Quarterly dividend of $0.14 per share announced.
• 27% increase in dividend demonstrates financial health.
• Commitment to balanced capital allocation strategy.

Negative

• None.

CHICAGO, June 17, 2021 (GLOBE NEWSWIRE) -- Methode Electronics, Inc. (NYSE: MEI), a leading global supplier of custom-engineered solutions for user interface, LED lighting system, and power distribution applications, announced today that its board of directors has declared a quarterly dividend of $0.14 per share to be paid on July 30, 2021 to common stockholders of record at the close of business on July 16, 2021. The amount represents a 27 percent increase from the previously declared dividend and is further evidence of the company’s commitment to a balanced capital allocation strategy.

About Methode Electronics, Inc.
Methode Electronics, Inc. (NYSE: MEI) is a leading global supplier of custom-engineered solutions with sales, engineering and manufacturing locations in North America, Europe, Middle East, and Asia. We design, engineer, and produce mechatronic products for OEMs utilizing our broad range of technologies for user interface, LED lighting system, power distribution and sensor applications.

Our solutions are found in the end markets of transportation (including automotive, commercial vehicle, e-bike, aerospace, bus, and rail), cloud computing infrastructure, construction equipment, consumer appliance, and medical devices. Our business is managed on a segment basis, with those segments being Automotive, Industrial, Interface and Medical.

For Methode Electronics, Inc.
Robert K. Cherry
Vice President Investor Relations
rcherry@methode.com
708-457-4030

FAQ

What is the dividend amount for MEI and when will it be paid?

Methode Electronics, Inc. will pay a dividend of $0.14 per share on July 30, 2021.

When is the record date for the MEI dividend?

The record date for the dividend is July 16, 2021.

How much has the MEI dividend increased recently?

The dividend has increased by 27% from the previously declared amount.

What is the significance of the dividend increase for MEI investors?

The dividend increase reflects the company's financial stability and commitment to returning value to shareholders.