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 July 15, 2022, to stockholders of record on July 1, 2022. CEO Daniel L. Jones emphasized that future dividends will depend on the Company's earnings and cash flow. With a focus on customer service and cost-effective production, Encore Wire remains committed to the growth of the company while ensuring a strong balance sheet.

Positive

• Dividend announcement of two cents per share, enhancing shareholder income.
• Commitment to long-term growth and maintaining a strong balance sheet.

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 July 15, 2022 to stockholders of record at the close of business on July 1, 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/20220506005387/en/

Bret J. Eckert

Chief Financial Officer

972-562-9473

Source: Encore Wire Corporation

FAQ

What is the dividend amount announced by Encore Wire Corporation?

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

When will the dividend be paid?

The dividend will be paid on July 15, 2022.

What is the record date for the dividend?

The record date for the dividend is July 1, 2022.

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

Future dividends will depend on earnings and cash flow considerations.