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

Rhea-AI Summary

Omega Flex, Inc. (NASDAQ: OFLX) announced a quarterly dividend of $0.30 per share, payable on October 4, 2021 to shareholders of record on September 27, 2021. Chairman Kevin R. Hoben emphasized the company’s commitment to shareholders, indicating that the dividend reflects confidence in the company’s financial health as it navigates economic challenges. Future dividends will be evaluated based on the company's cash needs, financial condition, capital expenditures, and potential acquisitions, ensuring sustainability and strategic financial management.

Positive

• Quarterly dividend of $0.30 reflects company confidence.
• Payment date of October 4, 2021, supports shareholder value.

Negative

• None.

EXTON, Pa., Sept. 15, 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 October 4, 2021 to shareholders of record on September 27, 2021. 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 emerge from this challenging time for the country and the economy, this dividend 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, Inc.?

The dividend amount declared by Omega Flex, Inc. is $0.30 per share.

When will the dividend be payable to shareholders?

The dividend will be payable on October 4, 2021.

When is the record date for the dividend?

The record date for the dividend is September 27, 2021.

How does Omega Flex, Inc. decide future dividend amounts?

Future dividend amounts will be determined based on cash needs, financial condition, capital expenditure plans, and potential acquisitions.