Encore Wire Announces Cash Dividend

Rhea-AI Summary

Encore Wire Corporation (NASDAQ: WIRE) has declared a cash dividend of two cents per share, set to be paid on January 20, 2023. Stockholders of record as of January 6, 2023 will receive this dividend. The management emphasizes that future dividends will depend on the Company's earnings and cash flow. Encore Wire, based in Texas, manufactures a diverse range of electrical wire and cables, focusing on cost efficiency and customer service.

Positive

• The declaration of a cash dividend of two cents per share demonstrates the company's commitment to shareholder returns.
• Management's assurance of ongoing evaluation of future dividends reflects confidence in earnings and cash flow sustainability.
• Encore Wire's focus on low production costs and exceptional customer service contributes positively to its market position.

Negative

• None.

MCKINNEY, Texas--(BUSINESS WIRE)-- Encore Wire Corporation (NASDAQ Global Select: WIRE) announced today that the Company’s Board of Directors has declared a cash dividend.

Daniel L. Jones, Chairman, President and Chief Executive Officer of Encore Wire Corporation, said, “This two-cent per share dividend will be paid on January 20, 2023 to stockholders of record at the close of business on January 6, 2023. Any future quarterly dividends will be paid subject to earnings and cash flow considerations. We appreciate our stockholders’ commitment to the continued growth of Encore Wire. We will continue to manage the Company for the long-term and strive to protect our strong balance sheet.”

Encore Wire Corporation is a leading manufacturer of a broad range of copper and aluminum electrical wire and cables, supplying power generation and distribution solutions to meet our customers’ needs today and in the future. The Company focuses on maintaining a low-cost of production while providing exceptional customer service, quickly shipping complete orders coast-to-coast. Our products are proudly made in America at our vertically-integrated, single-site, Texas campus.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221109006006/en/

Bret J. Eckert

Chief Financial Officer

972-562-9473

Source: Encore Wire Corporation

FAQ

What is the dividend amount declared by Encore Wire Corporation?

Encore Wire Corporation has declared a dividend of two cents per share.

When will the dividend be paid to stockholders?

The dividend will be paid on January 20, 2023.

Who are eligible for the dividend payment from Encore Wire?

Stockholders of record at the close of business on January 6, 2023, are eligible for the dividend payment.

Are future dividends guaranteed for Encore Wire Corporation?

Future dividends will depend on the company's earnings and cash flow considerations.

What does Encore Wire Corporation specialize in?

Encore Wire Corporation specializes in manufacturing copper and aluminum electrical wire and cables.