Encore Wire Announces Cash Dividend

Rhea-AI Summary

Encore Wire Corporation (NASDAQ: WIRE) has declared a cash dividend of two cents per share, payable on April 16, 2021, to stockholders recorded by the close of business on April 2, 2021. CEO Daniel L. Jones stated that future dividends will depend on earnings and cash flow. The company emphasizes its commitment to long-term growth and maintaining a strong balance sheet while focusing on customer service and expanding its product range in the electrical building wire sector.

Positive

• Declared a two-cent per share dividend for shareholders.
• Demonstrates commitment to long-term growth and strong balance sheet management.

Negative

• None.

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 April 16, 2021 to stockholders of record at the close of business on April 2, 2021. 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/20210223006120/en/

FAQ

What is the dividend amount announced by Encore Wire Corporation?

Encore Wire Corporation announced a cash dividend of two cents per share.

When will the dividend be paid to shareholders?

The dividend will be paid on April 16, 2021.

What is the record date for receiving the dividend?

The record date for the dividend is the close of business on April 2, 2021.

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

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

What does Encore Wire Corporation specialize in?

Encore Wire Corporation is a leading manufacturer of electrical building wire for commercial and industrial applications.