Flexsteel Increases Dividend 11%
DUBUQUE, Iowa--(BUSINESS WIRE)--Flexsteel Industries, Inc. (NASDAQ: FLXS):
The Board of Directors of Flexsteel Industries, Inc. approved an 11% increase in the Company’s quarterly dividend by declaring $0.20 per share dividend payable October 7, 2016 to shareholders of record as of September 23, 2016. This is the fifth increase since March 2009 when the dividend was $0.05 per share. The Board of Directors emphasized their commitment to increase shareholder value through dividends based upon sustainable earnings per share.
Flexsteel has paid cash dividends on its common stock each year since 1938. This is the 299th consecutive quarterly cash dividend. The Company believes that its cash flow and operating income levels support the dividend increase.
Flexsteel Industries, Inc. is headquartered in Dubuque, Iowa, and was incorporated in 1929. Flexsteel is a designer, manufacturer, and marketer of quality upholstered and wood furniture for residential, healthcare, hospitality, office and recreational vehicle markets. All products are distributed nationally.
Flexsteel Industries, Inc., Dubuque
Timothy E. Hall, 563-585-8392
Chief Financial Officer