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

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 given 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 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 Trading Down 2.1 %

Flexsteel Industries stock traded down $0.88 during mid-day trading on Tuesday, hitting $42.02. 33,773 shares of the company’s stock were exchanged, compared to its average volume of 29,987. Flexsteel Industries has a 1-year low of $28.81 and a 1-year high of $65.87. The stock has a 50 day moving average of $51.32 and a two-hundred day moving average of $50.62. The stock has a market cap of $221.40 million, a P/E ratio of 11.74, a P/E/G ratio of 1.14 and a beta of 0.39.

Flexsteel Industries (NASDAQ:FLXS) last issued its quarterly earnings data on Monday, February 3rd. The company reported $0.95 EPS for the quarter, beating analysts’ consensus estimates 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, research analysts predict 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.