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

Flexsteel Industries, Inc. (NASDAQ:FLXS) announced a quarterly dividend on Wednesday, December 11th,Wall Street Journal reports. Shareholders 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 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date is Friday, December 27th.

Flexsteel Industries has increased its dividend payment by an average of 12.6% per year over the last three years. Flexsteel Industries has a payout ratio of 20.9% meaning its dividend is sufficiently covered by earnings. Equities 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 Performance

Shares of FLXS stock opened at $57.16 on Wednesday. The firm has a 50 day moving average of $57.46 and a 200-day moving average of $44.54. The company has a market cap of $297.69 million, a price-to-earnings ratio of 22.59, a price-to-earnings-growth ratio of 1.57 and a beta of 0.40. The company has a quick ratio of 1.04, a current ratio of 2.84 and a debt-to-equity ratio of 0.02. Flexsteel Industries has a 52 week low of $17.55 and a 52 week high of $65.87.

Flexsteel Industries (NASDAQ:FLXS) last posted its quarterly earnings results on Monday, October 21st. The company reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.12. Flexsteel Industries had a net margin of 3.30% and a return on equity of 10.09%. The business had revenue of $104.01 million during the quarter, compared to analysts’ expectations of $101.60 million. During the same period last year, the company posted $0.14 earnings per share. On average, equities analysts forecast 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.