Encore Wire Announces Cash Dividend

Rhea-AI Summary

Encore Wire Corporation (NASDAQ: WIRE) has declared a two-cent cash dividend per share, set for payment on January 21, 2022. Stockholders on record by January 7, 2022 will receive this dividend. CEO Daniel L. Jones emphasized the company's dedication to enhancing long-term growth while safeguarding its robust balance sheet. Encore Wire specializes in manufacturing various electrical building wire used in multiple sectors, focusing on customer service and low-cost production.

Positive

• Dividend of two cents per share enhances shareholder value.
• Commitment to long-term growth and maintaining a strong balance sheet.

Negative

• Future dividends are subject to earnings and cash flow considerations.

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 21, 2022 to stockholders of record at the close of business on January 7, 2022. 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 electrical building wire for interior wiring in commercial and industrial buildings, homes, apartments, and manufactured housing. The Company focuses on maintaining a high level of customer service with low-cost production and the addition of new products that complement its current product line.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211110006248/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 cash dividend of two cents per share.

When is the dividend payment date for Encore Wire Corporation?

The dividend will be paid on January 21, 2022.

What is the record date for the dividend payment from Encore Wire Corporation?

The record date for the dividend payment is January 7, 2022.

Will Encore Wire Corporation continue to pay dividends in the future?

Future quarterly dividends will depend on earnings and cash flow considerations.