Q.E.P. Co., Inc. Announces Special Cash Dividend of $1.00 per Share

Rhea-AI Summary

Q.E.P. Co. (OTCQX: QEPC) declared a special cash dividend of $1.00 per share, payable on June 26, 2024, to stockholders of record as of May 31, 2024. This move reflects the company's solid financial health, ensuring that it retains sufficient working capital for investments and operating needs.

Positive

• Special cash dividend of $1.00 per share announced.
• Dividend payable on June 26, 2024.
• Record date for dividend set to May 31, 2024.
• Company retains sufficient working capital post-dividend payout.
• Board of Directors' decision reflects financial robustness.

Negative

• Announcement of dividend may indicate high-return investment opportunities.
• Cash outflow from dividend payment could impact liquidity in the short term.

BOCA RATON, Fla., May 15, 2024 (GLOBE NEWSWIRE) -- Q.E.P. CO., INC. (OTCQX: QEPC) (the “Company” or “QEP”) today announced that the Board of Directors of the Company has declared a special cash dividend of $1.00 per share on its common stock. The dividend will be payable on or about June 26, 2024 to stockholders of record as of the close of business on May 31, 2024. After payment of this dividend, the Company will continue to have sufficient working capital to make investments in the business and meet its operating needs in the coming year.

About QEP

Founded in 1979, Q.E.P. Co., Inc. is a leading designer, manufacturer and distributor of a broad range of best-in-class flooring installation solutions for commercial and home improvement projects worldwide. QEP offers a comprehensive line of specialty installation tools, adhesives, and underlayment. QEP sells its products throughout the world to home improvement retail centers and professional specialty distribution outlets under brand names including QEP®, LASH®, ROBERTS®, Capitol®, Premix-Marbletite® (PMM), Brutus®, Homelux®, PRCI®, and Tomecanic®.

QEP headquartered in Boca Raton, Florida with offices in Canada, Europe, and Asia. Please visit our website at www.qepcorporate.com.

Forward-Looking Statements

All statements contained in this press release, other than statements of historical facts, may constitute forward-looking statements within the meaning of the federal securities laws. These statements can be identified by words such as "expects," "plans," "projects," "will," "may," "anticipates," "believes," "should," "intends," "estimates," and other words of similar meaning. These forward-looking statements include, but are not limited to, statements regarding implementation of the Company’s strategies and increasing profitability and stockholder value. Any forward-looking statements contained herein are based on current expectations and beliefs, and are subject to a number of risks and uncertainties, including those listed in the Company’s annual report, as such risk factors may be amended, supplemented or superseded from time to time by other reports and disclosures made by the Company. The forward-looking statements contained in this press release speak only as of the date the statements were made, and the Company does not undertake any obligation to update forward-looking statements, except as required by law.

CONTACT:
Q.E.P. Co., Inc.
Enos Brown
Executive Vice President and
Chief Financial Officer
561-994-5550

FAQ

What is the special dividend announced by Q.E.P. Co.?

Q.E.P. Co. announced a special cash dividend of $1.00 per share on its common stock.

When is the Q.E.P. Co. dividend payable?

The dividend is payable on June 26, 2024.

What is the record date for the Q.E.P. Co. dividend?

The record date for the dividend is May 31, 2024.

What is the stock symbol for Q.E.P. Co.?

The stock symbol for Q.E.P. Co. is QEPC.

Will Q.E.P. Co. have enough capital after the dividend payment?

Yes, Q.E.P. Co. will retain sufficient working capital to meet its investment and operating needs.