Omega Flex, Inc. (NASDAQ:OFLX) Increases Dividend to $0.34 Per Share

Omega Flex, Inc. (NASDAQ:OFLX) announced a quarterly dividend on Thursday, June 13th, Zacks reports. Shareholders of record on Wednesday, June 26th will be paid a dividend of 0.34 per share by the industrial products company on Wednesday, July 10th. This represents a $1.36 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date is Wednesday, June 26th. This is a boost from Omega Flex’s previous quarterly dividend of $0.33.

Omega Flex has increased its dividend by an average of 5.4% annually over the last three years and has increased its dividend every year for the last 6 years.

Omega Flex Stock Performance

OFLX stock opened at $57.21 on Friday. The company’s fifty day moving average price is $65.19 and its 200-day moving average price is $70.08. Omega Flex has a one year low of $56.03 and a one year high of $110.83. The company has a market capitalization of $577.48 million, a PE ratio of 30.11 and a beta of 0.36.

Omega Flex (NASDAQ:OFLX) last announced its quarterly earnings results on Wednesday, May 1st. The industrial products company reported $0.42 earnings per share (EPS) for the quarter. Omega Flex had a net margin of 18.03% and a return on equity of 24.76%. The company had revenue of $25.22 million for the quarter.

Omega Flex Company Profile

Omega Flex, Inc, together with its subsidiaries, manufactures and sells flexible metal hoses and accessories in North America and internationally. It offers flexible gas piping for use in residential and commercial buildings; fittings; containment pining; and corrugated medical tubing for use in hospitals, ambulatory care centers, dental, physician and veterinary clinics, laboratories, and other facilities.