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

Flexsteel Industries, Inc. (NASDAQ:FLXS) declared a quarterly dividend on Monday, December 16th,Wall Street Journal reports. Stockholders of record on Saturday, December 28th will be given a dividend of 0.17 per share on Wednesday, January 8th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date of this dividend is Friday, December 27th.

Flexsteel Industries has raised 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. 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 NASDAQ FLXS traded down $2.37 during trading hours on Monday, hitting $62.11. 31,276 shares of the stock were exchanged, compared to its average volume of 31,834. The firm has a market capitalization of $323.47 million, a P/E ratio of 25.25, a P/E/G ratio of 1.57 and a beta of 0.40. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.84 and a quick ratio of 1.04. Flexsteel Industries has a one year low of $17.10 and a one year high of $65.87. The company’s 50 day moving average is $55.38 and its 200 day moving average is $43.57.

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. The business had revenue of $104.01 million during the quarter, compared to analysts’ expectations of $101.60 million. Flexsteel Industries had a return on equity of 10.09% and a net margin of 3.30%. During the same quarter in the previous year, the firm earned $0.14 EPS. On average, research analysts expect that Flexsteel Industries will post 3.25 EPS for the current year.

Analyst Ratings Changes

Separately, StockNews.com upgraded shares of Flexsteel Industries from a “hold” rating to a “buy” rating in a research note on Wednesday, August 21st.

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.