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

Flexsteel Industries, Inc. (NASDAQ:FLXS) announced 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 dividend on an annualized basis and a yield of 1.62%.

Flexsteel Industries has raised its dividend payment by an average of 2.2% annually over the last three years. Flexsteel Industries has a 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 Price Performance

NASDAQ FLXS opened at $41.91 on Thursday. Flexsteel Industries has a 1 year low of $28.81 and a 1 year high of $65.87. The firm has a market cap of $220.82 million, a price-to-earnings ratio of 11.71, a PEG ratio of 1.14 and a beta of 0.39. The company has a fifty day moving average price of $50.71 and a 200-day moving average price of $50.60.

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

About Flexsteel Industries

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.