Omega Flex, Inc. Announces Regular Quarterly Dividend for the Quarter Ending September 30, 2020

Rhea-AI Summary

Omega Flex, Inc. (NASDAQ: OFLX) announced a quarterly dividend of $0.28 per share, payable on October 13, 2020, to shareholders on record by October 5, 2020. Chairman Kevin R. Hoben emphasized the company's commitment to maintaining this dividend amid challenging economic conditions, reflecting confidence in its financial resilience. Future dividends will be determined based on the company's operational results, financial health, capital plans, and potential acquisitions.

Positive

• Quarterly dividend maintained at $0.28 per share, indicating confidence in financial stability.
• Dividend reflects the company's ability to navigate economic challenges.

Negative

• Future dividends will depend on cash needs and operational performance, indicating potential uncertainty.

EXTON, Pa., Sept. 23, 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 October 13, 2020 to shareholders of record on October 5, 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.

Kevin R. Hoben
(860) 704-6820

FAQ

What is the dividend amount declared by Omega Flex (OFLX)?

The declared dividend amount is $0.28 per share.

When will the dividend be paid to shareholders of Omega Flex (OFLX)?

The dividend will be paid on October 13, 2020.

What is the record date for the Omega Flex (OFLX) dividend?

The record date for the dividend is October 5, 2020.

Is the dividend from Omega Flex (OFLX) sustainable?

The sustainability of the dividend depends on the company's future operational performance and financial condition.

How often does Omega Flex (OFLX) pay dividends?

Omega Flex pays dividends quarterly.