Flexsteel Industries, Inc. (FLXS) to Distribute Quarterly Dividend of $0.17 on April 7th

Flexsteel Industries, Inc. (NASDAQ:FLXS) declared a quarterly dividend on Tuesday, March 4th, RTT News reports. Stockholders 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 dividend yield of 1.62%.

Flexsteel Industries has raised its dividend payment by an average of 2.2% per year over the last three years. Flexsteel Industries has a dividend payout ratio of 16.8% indicating that 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 Stock Performance

Shares of NASDAQ FLXS opened at $41.91 on Thursday. The company has a market capitalization of $220.82 million, a P/E ratio of 11.71, a price-to-earnings-growth ratio of 1.14 and a beta of 0.39. Flexsteel Industries has a 52-week low of $28.81 and a 52-week high of $65.87. The company’s 50 day moving average price is $50.71 and its 200-day moving average price is $50.60.

Flexsteel Industries (NASDAQ:FLXS) last issued its quarterly earnings results on Monday, February 3rd. The company reported $0.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.21. Flexsteel Industries had a net margin of 4.63% and a return on equity of 11.25%. Analysts forecast that Flexsteel Industries will post 3.53 earnings per share for the current 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.