Omega Flex, Inc. Announces Regular Quarterly Dividend for the Second Quarter 2022

Rhea-AI Summary

Omega Flex announced a quarterly dividend of $0.32 per share, payable on July 5, 2022, for shareholders on record as of June 24, 2022. Chairman Kevin R. Hoben highlighted the company's sustained growth as a reason for the increase, expressing confidence in its ability to navigate economic challenges. The Board will evaluate cash needs and operational results when determining future dividends.

Positive

• Quarterly dividend increased to $0.32 per share, demonstrating company confidence.

Negative

• General market uncertainties could impact future performance and dividends.

EXTON, Pa., June 10, 2022 (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 July 5, 2022, to shareholders of record on June 24, 2022. Kevin R. Hoben, the Company’s chairman stated that: “The sustained growth of Omega Flex, Inc. recommended an increase in the regular quarterly dividend. As the Company emerges from this challenging time for the country and the economy, this increase 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 declared a quarterly dividend of $0.32 per share.

When will the dividend be paid by Omega Flex?

The dividend will be paid on July 5, 2022.

What is the record date for Omega Flex's dividend?

The record date for the dividend is June 24, 2022.

How often does Omega Flex pay dividends?

Omega Flex pays dividends quarterly.

Is the dividend from Omega Flex sustainable?

The sustainability of the dividend will depend on the company's financial condition and operational results.