Omega Flex, Inc. Announces Regular Quarterly Dividend for the Fourth Quarter 2024

Rhea-AI Summary

Omega Flex (NASDAQ: OFLX) has announced a regular quarterly dividend of $0.34 per share. The dividend will be paid on January 7, 2025, to shareholders of record as of December 19, 2024. The Board of Directors determines the dividend amount based on several factors, including the company's cash requirements, operational results, financial condition, capital expenditure plans, and potential acquisitions.

Positive

• Maintained regular quarterly dividend of $0.34 per share

Negative

• None.

Insights

Financial Analyst

The quarterly dividend announcement of $0.34 per share maintains Omega Flex's consistent dividend policy, representing an annual dividend yield of approximately 1.4% based on current share price. The company's disciplined approach to dividend distribution, considering factors like cash needs, operations and potential acquisitions, reflects conservative capital management. While the dividend provides steady income for shareholders, it's relatively modest compared to industry peers. The continuation of regular dividends signals management's confidence in the company's financial stability and cash flow generation capacity, though the unchanged dividend amount suggests a cautious stance on capital distribution.

EXTON, Pa., Dec. 05, 2024 (GLOBE NEWSWIRE) -- Omega Flex, Inc. (the “Company”) (NASDAQ: OFLX) today announced that the Board of Directors declared a regular quarterly dividend of $0.34 per share payable on January 7, 2025, to shareholders of record on December 19, 2024.   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.

INFORMATION CONCERNING FORWARD-LOOKING STATEMENTS – This press release contains forward-looking statements, which are subject to inherent uncertainties which are difficult to predict and may be beyond the ability of Omega Flex to control. Certain statements in this press release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are not historical facts, but rather reflect Omega Flex’s 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 Omega Flex (or entities in which Omega Flex has interests) 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 press release. Omega Flex undertakes 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:	Dean W. Rivest
	(610) 524-7272

FAQ

What is Omega Flex's (OFLX) dividend amount for Q4 2024?

Omega Flex's dividend for Q4 2024 is $0.34 per share.

When is Omega Flex's (OFLX) Q4 2024 dividend payment date?

The Q4 2024 dividend will be paid on January 7, 2025.

What is the record date for Omega Flex's (OFLX) Q4 2024 dividend?

The record date for the Q4 2024 dividend is December 19, 2024.

How does Omega Flex (OFLX) determine its quarterly dividend amount?

The Board reviews the company's cash needs, operational results, financial condition, capital expenditure plans, and potential acquisitions to determine the quarterly dividend amount.