Omega Flex, Inc. Announces Regular Quarterly Dividend for the Second Quarter 2021

Rhea-AI Summary

Omega Flex, Inc. (NASDAQ: OFLX) announced a quarterly dividend of $0.30 per share, payable on July 6, 2021, to shareholders of record on June 22, 2021. This increase reflects the company's ongoing growth and confidence in navigating economic challenges. The Board will assess future dividend amounts based on operational results, financial health, capital needs, and potential acquisitions. The statement includes forward-looking remarks that caution investors about uncertainties affecting future performance.

Positive

• Quarterly dividend increased to $0.30 per share, indicating strong company growth.

Negative

• Forward-looking statements emphasize inherent uncertainties that could impact future results.

EXTON, Pa., June 09, 2021 (GLOBE NEWSWIRE) -- Omega Flex, Inc. (the “Company”) (NASDAQ: OFLX) today announced that the Board of Directors declared a regular quarterly dividend of $0.30 per share payable on July 6, 2021 to shareholders of record on June 22, 2021. Kevin R. Hoben, the Company’s chairman, stated that: “Due to the continued growth of Omega Flex, Inc., an increase in the regular quarterly dividend is appropriate. 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)?

The dividend amount declared is $0.30 per share.

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

The dividend will be paid on July 6, 2021.

What factors will Omega Flex (OFLX) consider for future dividends?

The Board will consider cash needs, operational results, financial condition, and potential acquisitions.

Who is the chairman of Omega Flex (OFLX)?

The chairman of Omega Flex is Kevin R. Hoben.

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

The record date for the dividend is June 22, 2021.