Crown Crafts Announces Quarterly Cash Dividend
May 02 2018 - 9:30AM
Crown Crafts, Inc. (NASDAQ-CM:CRWS) announced today that its Board
of Directors has declared a quarterly cash dividend on its Series A
common stock of $0.08 per share to be paid on July 6, 2018 to
stockholders of record at the close of business on June 15,
2018.
“Our strong financial position and business
outlook allow us to continue to deliver returns for our
stockholders,” said E. Randall Chestnut, Chairman, President and
Chief Executive Officer. “Crown Crafts remains focused on
operational discipline and we are committed to delivering value to
our stockholders. We are pleased to once again announce this
dividend payment.”
About Crown Crafts, Inc.
Crown Crafts, Inc., founded in 1957, is one of
America’s largest producers of infant bedding, toddler bedding,
bibs and developmental toys. Crown Crafts, Inc. operates through
its three wholly owned subsidiaries, Crown Crafts Infant Products,
Inc., Hamco, Inc. (which includes the Sassy product line) and
Carousel Designs, LLC. The Company’s subsidiaries market a variety
of infant, toddler and juvenile products under Company-owned
trademarks as well as licensed collections and exclusive private
label programs. Sales are made directly to retailers such as mass
merchants, large chain stores and juvenile specialty stores, as
well as directly to consumers through www.babybedding.com. For more
information, visit the Company’s website at
www.crowncrafts.com.
Forward-Looking Statements
The foregoing contains forward-looking
statements within the meaning of the Securities Act of 1933, the
Securities Exchange Act of 1934 and the Private Securities
Litigation Reform Act of 1995. Such statements are based upon
management’s current expectations, projections, estimates and
assumptions. Words such as “expects,” “believes,” “anticipates” and
variations of such words and similar expressions identify such
forward-looking statements. Forward-looking statements involve
known and unknown risks and uncertainties that may cause future
results to differ materially from those suggested by the
forward-looking statements. These risks include, among others,
general economic conditions, including changes in interest rates,
in the overall level of consumer spending and in the price of oil,
cotton and other raw materials used in the Company’s products,
changing competition, changes in the retail environment, the
Company’s ability to successfully integrate newly acquired
businesses, the level and pricing of future orders from the
Company’s customers, the extent to which the Company’s business is
concentrated in a small number of customers, the Company’s
dependence upon third-party suppliers, including some located in
foreign countries, customer acceptance of both new designs and
newly-introduced product lines, actions of competitors that may
impact the Company’s business, disruptions to transportation
systems or shipping lanes used by the Company or its suppliers, and
the Company’s dependence upon licenses from third parties.
Reference is also made to the Company’s periodic filings with the
Securities and Exchange Commission for additional factors that may
impact the Company’s results of operations and financial condition.
The Company does not undertake to update the forward-looking
statements contained herein to conform to actual results or changes
in our expectations, whether as a result of new information, future
events or otherwise.
Contact:
Olivia ElliottVice President and Chief Financial Officer(225)
647-9124mailto:oelliott@crowncrafts.com
or
Halliburton Investor Relations(972) 458-8000
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