Omega Flex, Inc. Announces Regular Quarterly Dividend for the First Quarter 2023

Rhea-AI Summary

Omega Flex, Inc. (NASDAQ: OFLX) announced a quarterly dividend of $0.32 per share, scheduled for payment on April 24, 2023, to shareholders of record by April 10, 2023. The Board of Directors will assess the company's cash needs and operational results before determining future dividends. This decision will factor in financial conditions, capital expenditures, and potential acquisitions, among other considerations. The company included forward-looking statements about its future expectations, cautioning that actual results may differ due to various risks and uncertainties.

Positive

• Quarterly dividend of $0.32 per share boosts income for shareholders.
• Dividend payment reflects company confidence in financial stability.

Negative

• None.

EXTON, Pa., March 28, 2023 (GLOBE NEWSWIRE) -- Omega Flex, Inc. (the “Company”) (NASDAQ: OFLX) today announced that the Board of Directors declared a regular quarterly dividend of $0.32 per share payable on April 24, 2023, to shareholders of record on April 10, 2023. 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 for 2023?

The declared dividend amount is $0.32 per share.

When is the dividend payment date for Omega Flex?

The dividend payment date is April 24, 2023.

What is the record date for the dividend payment of Omega Flex?

The record date for the dividend payment is April 10, 2023.

How often does Omega Flex pay dividends?

Omega Flex pays dividends on a quarterly basis.

What factors influence Omega Flex's future dividend declarations?

Future dividends will depend on cash needs, operational results, financial condition, capital expenditures, and potential acquisitions.