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

Flexsteel Industries, Inc. (NASDAQ:FLXS) declared a quarterly dividend on Tuesday, March 4th, RTT News reports. Shareholders of record on Wednesday, March 26th will be paid a dividend of 0.17 per share on Monday, April 7th. This represents a $0.68 annualized dividend and a yield of 1.58%.

Flexsteel Industries has raised its dividend by an average of 2.2% per year over the last three years. Flexsteel Industries has a payout ratio of 16.8% indicating that its dividend is sufficiently covered by earnings. Research 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 Up 2.7 %

Shares of FLXS stock traded up $1.15 during trading hours on Wednesday, hitting $43.17. 1,617 shares of the company’s stock traded hands, compared to its average volume of 29,291. Flexsteel Industries has a 12 month low of $28.81 and a 12 month high of $65.87. The stock has a market cap of $227.48 million, a PE ratio of 11.78, a price-to-earnings-growth ratio of 1.14 and a beta of 0.39. The stock’s 50 day simple moving average is $51.02 and its 200 day simple moving average is $50.66.

Flexsteel Industries (NASDAQ:FLXS) last announced its earnings results on Monday, February 3rd. The company reported $0.95 EPS for the quarter, topping 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%. As a group, equities research analysts expect that Flexsteel Industries will post 3.53 EPS 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.