Encore Wire Announces Cash Dividend

Rhea-AI Summary

Encore Wire Corporation (NASDAQ: WIRE) has declared a cash dividend of two cents per share, scheduled to be paid on April 21, 2023 to shareholders of record as of April 6, 2023. Daniel L. Jones, the Company’s CEO, emphasized the importance of maintaining a strong balance sheet and stated that future quarterly dividends will depend on earnings and cash flow. Encore Wire, based in Texas, is a leading manufacturer of copper and aluminum electrical wire and cables, focusing on low-cost production and exceptional customer service.

Positive

• Declaration of a cash dividend of two cents per share enhances shareholder returns.
• Commitment to manage the Company for long-term stability and growth.

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 April 21, 2023 to stockholders of record at the close of business on April 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/20230217005267/en/

Bret J. Eckert

Executive Vice President

Chief Financial Officer

972-562-9473

Source: Encore Wire Corporation

FAQ

What is the dividend amount for Encore Wire Corporation (WIRE)?

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

When is the dividend payment date for WIRE?

The dividend will be paid on April 21, 2023.

Who are the shareholders eligible for the WIRE dividend?

Shareholders of record as of April 6, 2023, are eligible for the dividend.

Are future dividends guaranteed for Encore Wire (WIRE)?

Future dividends will depend on earnings and cash flow considerations.