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

Rhea-AI Summary

Omega Flex, Inc. (NASDAQ: OFLX) announced a quarterly dividend of $0.32 per share, payable on October 24, 2022, to shareholders recorded by October 12, 2022. Chairman Kevin R. Hoben emphasized the Company's commitment to shareholders and confidence in its future performance amidst economic challenges. Future dividends will be determined quarterly based on various factors, including financial condition and capital needs.

Positive

• Quarterly dividend of $0.32 per share reflects strong commitment to shareholders.
• Indication of confidence in company's financial stability during challenging economic times.

Negative

• None.

EXTON, Pa., Sept. 30, 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 October 24, 2022, to shareholders of record on October 12, 2022.   Kevin R. Hoben, the Company’s chairman stated that: “The commitment of Omega Flex, Inc. to its shareholders is reflected in part by the payment of this regular quarterly dividend. As the Company continues to weather these challenging times for the country and the economy, this dividend is the best indication of our belief in the Company’s ability to succeed.” 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, Inc. for Q4 2022?

The declared dividend amount is $0.32 per share.

When will the dividend be paid to shareholders of Omega Flex, Inc.?

The dividend will be paid on October 24, 2022.

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

The record date for the dividend is October 12, 2022.

How often does Omega Flex, Inc. pay dividends?

Omega Flex, Inc. pays dividends quarterly.

What factors will Omega Flex, Inc. consider for future dividends?

Future dividends will consider financial condition, cash needs, operations results, and capital expenditure plans.