Omega Flex, Inc. Announces Regular Quarterly Dividend for the First Quarter 2021

Rhea-AI Summary

Omega Flex, Inc. (NASDAQ:OFLX) announced a quarterly dividend of $0.28 per share, payable on April 14, 2021, to shareholders on record as of April 5, 2021. The company’s chairman, Kevin R. Hoben, expressed confidence in the firm’s capacity to navigate current economic challenges as evidenced by their commitment to maintain this dividend. Future dividend amounts will be assessed quarterly, considering financial performance, cash requirements, and potential acquisitions.

Positive

• Quarterly dividend of $0.28 per share reflects company confidence.
• Dividends to be reviewed quarterly based on company performance and needs.

Negative

• None.

EXTON, Pa., March 24, 2021 (GLOBE NEWSWIRE) -- Omega Flex, Inc. (the “Company”) (NASDAQ:OFLX) today announced that the Board of Directors declared a regular quarterly dividend of $0.28 per share payable on April 14, 2021 to shareholders of record on April 5, 2021.   Kevin R. Hoben, the Company’s chairman stated that: “The commitment to maintain the regular quarterly dividend at this challenging time for the country and the economy is the best indication of our belief in the Company’s ability to weather this storm.” In determining the amount of future regular quarterly dividends, the Board will review the cash needs of the Company, and based on results of operations, financial condition, capital expenditure plans, and consideration of possible acquisitions, as well as such other factors as the Board of Directors may consider relevant, determine on a quarterly basis the amount of a regular quarterly dividend.

This news release contains forward-looking statements, which are subject to inherent uncertainties which are difficult to predict, and may be beyond the ability of our control.

Certain statements in this news release constitute forward-looking statements with the meaning of the Private Securities Litigation Reform act of 1995, that are not historical facts but rather reflect our current expectations concerning future results and events. The words “believes,” “expects,” “intends,” “plans,” “anticipates,” “hopes,” “likely,” “will,” and similar expressions identify such forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors that could cause the actual results, performance or achievements of the Company (including its subsidiaries and affiliates) or industry results, to differ materially from future results, performance or achievements expressed or implied by such forward-looking statements.

Readers are cautioned not to place undue reliance on these forward-looking statements which reflect management’s view only as of the date of this news release. We undertake no obligation to publicly release the result of any revisions to these forward-looking statements which may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events, conditions or circumstances.

Contact: Kevin R. Hoben
(860) 704-6820

FAQ

What is the dividend amount declared by Omega Flex in March 2021?

The declared dividend amount is $0.28 per share.

When will the dividend be paid to shareholders?

The dividend will be paid on April 14, 2021.

What is the record date for the dividend payment?

The record date for the dividend payment is April 5, 2021.

How often does Omega Flex review its dividends?

Omega Flex reviews its dividends on a quarterly basis.

What factors does Omega Flex consider when determining future dividends?

The company considers financial performance, cash needs, capital expenditures, and potential acquisitions.