Flexsteel Industries, Inc. Announces Quarterly Dividend of $0.17 (NASDAQ:FLXS)

Flexsteel Industries, Inc. (NASDAQ:FLXS) declared a quarterly dividend on Wednesday, December 11th,Wall Street Journal reports. Stockholders of record on Saturday, December 28th will be paid a dividend of 0.17 per share on Wednesday, January 8th. This represents a $0.68 annualized dividend and a dividend yield of 1.19%. The ex-dividend date of this dividend is Friday, December 27th.

Flexsteel Industries has increased its dividend payment by an average of 12.6% annually over the last three years. Flexsteel Industries has a dividend payout ratio of 20.9% indicating that its dividend is sufficiently covered by earnings. Analysts expect Flexsteel Industries to earn $3.84 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 17.7%.

Flexsteel Industries Stock Down 0.3 %

FLXS opened at $57.16 on Wednesday. Flexsteel Industries has a 1-year low of $17.55 and a 1-year high of $65.87. The stock has a market cap of $297.69 million, a PE ratio of 22.59, a price-to-earnings-growth ratio of 1.57 and a beta of 0.40. The stock’s fifty day simple moving average is $57.46 and its 200 day simple moving average is $44.54. The company has a current ratio of 2.84, a quick ratio of 1.04 and a debt-to-equity ratio of 0.02.

Flexsteel Industries (NASDAQ:FLXS) last posted its quarterly earnings data on Monday, October 21st. The company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.12. Flexsteel Industries had a return on equity of 10.09% and a net margin of 3.30%. The firm had revenue of $104.01 million for the quarter, compared to analysts’ expectations of $101.60 million. During the same quarter last year, the business earned $0.14 EPS. As a group, research analysts expect that Flexsteel Industries will post 3.25 earnings per share for the current 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.