Flexsteel Announces 50% Dividend Increase
September 09 2010 - 10:30AM
Business Wire
Flexsteel Industries, Inc. (NASDAQ: FLXS):
The Board of Directors of Flexsteel Industries, Inc. declared a
quarterly dividend of $0.075 per share, a 50% increase, payable
October 1, 2010 to shareholders of record as of September 20, 2010.
The Board of Directors emphasized their commitment to improve
shareholder value through increased dividends based upon
sustainable earnings per share.
Flexsteel has paid cash dividends each year since 1938 on its
common stock. This is the 275th consecutive cash dividend. The
Company has no restrictions on the payment of dividends. The
Company believes that its cash flow and operating income levels are
supportive of the current dividend.
Flexsteel Industries, Inc. is headquartered in Dubuque, Iowa,
and was incorporated in 1929. Flexsteel is a designer,
manufacturer, importer and marketer of quality upholstered and wood
furniture for residential, recreational vehicle, office,
hospitality and healthcare markets. All products are distributed
nationally.
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