Omega Flex, Inc. Announces Regular Quarterly Dividend for the Quarter Ending December 31, 2020

Rhea-AI Summary

Omega Flex, Inc. (NASDAQ: OFLX) announced a quarterly dividend of $0.28 per share, payable on January 5, 2021. This decision reflects the Board's confidence in the company's ability to navigate challenging economic conditions. Shareholders of record by December 21, 2020 are eligible for this dividend. The Board will assess future dividends based on operational performance, financial health, and capital expenditure needs.

Positive

• Quarterly dividend of $0.28 per share reflects confidence in financial stability.
• Dividend payment scheduled for January 5, 2021, demonstrates commitment to shareholders.

Negative

• None.

EXTON, Pa., Dec. 11, 2020 (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 January 5, 2021 to shareholders of record on December 21, 2020.   Kevin R. Hoben, the Company’s chairman stated that: “The commitment to maintain the regular quarterly dividend at the current rate in 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 (OFLX)?

Omega Flex has declared a quarterly dividend of $0.28 per share.

When will the dividend for Omega Flex be paid?

The dividend will be paid on January 5, 2021.

What is the record date for the Omega Flex dividend?

The record date for the dividend is December 21, 2020.

How does Omega Flex determine future dividends?

Future dividends will be determined based on cash needs, financial performance, capital expenditure plans, and other relevant factors.