Flexsteel Industries, Inc. (NASDAQ:FLXS) Declares Dividend Increase – $0.25 Per Share

Flexsteel Industries, Inc. (NASDAQ:FLXS) announced a quarterly dividend on Wednesday, June 10th. Shareholders of record on Wednesday, June 24th will be given a dividend of 0.25 per share on Monday, July 6th. This represents a c) dividend on an annualized basis and a yield of 1.7%. 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% meaning its dividend is sufficiently covered by earnings. 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 Price Performance

FLXS opened at $58.15 on Thursday. Flexsteel Industries has a fifty-two week low of $29.39 and a fifty-two week high of $60.97. The firm’s fifty day moving average price is $52.84 and its two-hundred day moving average price is $47.43. The company has a market capitalization of $311.68 million, a P/E ratio of 10.53, a P/E/G ratio of 1.01 and a beta of 0.58.

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