Encore Wire Announces Cash Dividend

Rhea-AI Summary

Encore Wire Corporation (NASDAQ: WIRE) has declared a cash dividend of two cents per share, to be paid on October 21, 2022. Stockholders of record as of October 7, 2022 will receive this dividend. CEO Daniel L. Jones emphasized the company’s commitment to growth and managing its strong balance sheet. Encore Wire is recognized for its extensive range of copper and aluminum electrical wire and cables, focusing on low production costs and exceptional customer service from its Texas facility.

Positive

• Dividend of two cents per share declared, signaling financial stability.
• Commitment to shareholder returns and long-term growth management.
• Strong balance sheet maintained.

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 October 21, 2022 to stockholders of record at the close of business on October 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 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/20220803005979/en/

Bret J. Eckert

Chief Financial Officer

972-562-9473

Source: Encore Wire Corporation

FAQ

What is the dividend amount for Encore Wire Corporation?

The dividend amount is two cents per share.

When will the dividend be paid to shareholders?

The dividend will be paid on October 21, 2022.

What is the record date for the dividend?

The record date for the dividend is October 7, 2022.

Is the dividend payment sustainable for Encore Wire Corporation?

Future dividends will depend on earnings and cash flow considerations.