Crown Crafts Announces Quarterly Cash Dividend
May 17 2022 - 7:04AM
Crown Crafts, Inc. (NASDAQ-CM: CRWS) (the “Company”) 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 8, 2022 to stockholders of record at the close of business
on June 17, 2022.
"We are pleased that strong market fundamentals
and our excellent operating cash flow have allowed us to reward
shareholders with this dividend," said Olivia W. Elliott,
President and Chief Executive Officer of the Company. "Our
Board continues to believe that Crown Crafts is an attractive
investment, and we are committed to providing consistent value
to our shareholders."
About Crown Crafts, Inc.
Crown Crafts, Inc. designs, markets and
distributes infant, toddler and juvenile consumer products. Founded
in 1957, Crown Crafts is one of America’s largest producers of
infant bedding, toddler bedding, bibs and developmental toys. The
Company operates through its two wholly owned subsidiaries, NoJo
Baby & Kids, Inc., and Sassy Baby, Inc., which 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. For
more information, visit the Company’s website at
www.crowncrafts.com.
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, the
impact of the COVID-19 pandemic on the Company’s business
operations, 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. Also, in
regard to the Company’s dividend announced today and its history of
paying dividends, the declaration of each dividend is at the
discretion of the Company’s Board of Directors and the Company
expressly disclaims any assurances as to the frequency and amount
of any future dividends. 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:Craig J. DemarestVice President and Chief Financial
Officer (225) 647-9118cdemarest@crowncrafts.com
Crown Crafts (NASDAQ:CRWS)
Historical Stock Chart
From May 2024 to Jun 2024
Crown Crafts (NASDAQ:CRWS)
Historical Stock Chart
From Jun 2023 to Jun 2024