Encore Wire Announces Cash Dividend

Rhea-AI Summary

Encore Wire Corporation (NASDAQ: WIRE) has declared a cash dividend of $0.02 per share, payable on October 15, 2021, to stockholders of record as of October 1, 2021. CEO Daniel L. Jones emphasized the importance of this dividend, citing it as a reflection of the company's commitment to its investors, while also noting that future dividends will depend on earnings and cash flow. Encore Wire specializes in manufacturing electrical building wire for various applications, aiming for low-cost production and high customer service.

Positive

• Dividend of $0.02 per share announced, indicating confidence in financial health.
• 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 October 15, 2021 to stockholders of record at the close of business on October 1, 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/20210809005793/en/

FAQ

What is the dividend amount and payment date for Encore Wire (WIRE)?

Encore Wire has declared a dividend of $0.02 per share, payable on October 15, 2021.

Who is eligible to receive the dividend from Encore Wire?

Stockholders of record at the close of business on October 1, 2021, are eligible.

Will Encore Wire continue to pay dividends in the future?

Future dividends will be subject to earnings and cash flow considerations.

What does Encore Wire specialize in?

Encore Wire manufactures electrical building wire for commercial and residential applications.