Flexsteel Industries, Inc. (FLXS) to Issue Quarterly Dividend of $0.17 on April 7th

Flexsteel Industries, Inc. (NASDAQ:FLXS) announced a quarterly dividend on Tuesday, March 4th, RTT News reports. Investors of record on Wednesday, March 26th will be given a dividend of 0.17 per share on Monday, April 7th. This represents a $0.68 annualized dividend and a dividend yield of 1.78%. The ex-dividend date of this dividend is Wednesday, March 26th.

Flexsteel Industries has increased its dividend by an average of 2.2% per year over the last three years. Flexsteel Industries has a dividend payout ratio of 16.8% meaning its dividend is sufficiently covered by earnings. Analysts expect Flexsteel Industries to earn $4.04 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 16.8%.

Flexsteel Industries Stock Performance

Shares of NASDAQ FLXS opened at $38.30 on Monday. The company has a market capitalization of $201.80 million, a price-to-earnings ratio of 10.70, a P/E/G ratio of 1.14 and a beta of 0.31. The company has a 50 day simple moving average of $47.49 and a two-hundred day simple moving average of $50.57. Flexsteel Industries has a fifty-two week low of $28.81 and a fifty-two week high of $65.87.

Flexsteel Industries (NASDAQ:FLXS) last issued its quarterly earnings results on Monday, February 3rd. The company reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.21. Flexsteel Industries had a return on equity of 11.25% and a net margin of 4.63%. On average, analysts forecast that Flexsteel Industries will post 3.53 earnings per share for the current fiscal year.

Flexsteel Industries Company Profile

Flexsteel Industries, Inc, together with its subsidiaries, operates as a manufacturer, importer, and markets of upholstered furniture for residential and contract markets in the United States. It provides upholstered furniture, such as sofas, loveseats, chairs, reclining rocking chairs, swivel rockers, sofa beds, convertible bedding units, occasional tables, desks, dining tables and chairs, kitchen storage, bedroom furniture, and outdoor furniture.