Flexsteel Industries, Inc. (FLXS) to Issue Quarterly Dividend of $0.25 on July 6th

Flexsteel Industries, Inc. (NASDAQ:FLXS) announced a quarterly dividend on Wednesday, June 10th. Investors of record on Wednesday, June 24th will be paid a dividend of 0.25 per share on Monday, July 6th. This represents a c) annualized dividend and a yield of 1.6%. The ex-dividend date is Wednesday, June 24th. This is a 25.0% increase from Flexsteel Industries’s previous quarterly dividend of $0.20.

Flexsteel Industries has a dividend payout ratio of 21.3% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Flexsteel Industries to earn $5.05 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 15.8%.

Flexsteel Industries Stock Performance

Shares of FLXS stock opened at $63.21 on Friday. Flexsteel Industries has a one year low of $29.39 and a one year high of $63.46. The company’s 50-day moving average is $53.21 and its 200 day moving average is $47.61. The company has a market capitalization of $338.81 million, a price-to-earnings ratio of 11.45, a price-to-earnings-growth ratio of 1.01 and a beta of 0.58.

Flexsteel Industries (NASDAQ:FLXS) last announced its quarterly earnings results on Monday, April 20th. The company reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.39. The firm had revenue of $115.13 million for the quarter, compared to the consensus estimate of $118.32 million. Flexsteel Industries had a net margin of 6.79% and a return on equity of 16.10%. As a group, research analysts predict that Flexsteel Industries will post 4.78 earnings per share for the current fiscal year.

Flexsteel Industries Company Profile

Flexsteel Industries, Inc (NASDAQ: FLXS) is a U.S.-based furniture manufacturer specializing in the design, production, and marketing of residential upholstered furniture and wood casegoods. The company operates through two primary segments: Upholstery, which encompasses seating products such as sofas, loveseats, chairs, recliners, and sectionals; and Casegoods, which includes accent and occasional tables, cabinets, bookcases, and other wood-based furnishings. Flexsteel sells its products through a network of independent retailers, furniture stores, and distributors across North America.

Flexsteel’s upholstery segment is distinguished by its patented Blue Steel Spring® technology, which offers enhanced longevity and comfort by replacing conventional webbing and springs with a welded steel seat suspension.