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

Flexsteel Industries, Inc. (NASDAQ:FLXS) announced a quarterly dividend on Monday, December 16th,Wall Street Journal reports. Shareholders of record on Saturday, December 28th will be paid a dividend of 0.17 per share on Wednesday, January 8th. This represents a $0.68 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date 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 dividend payout ratio of 20.9% indicating that 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 Down 3.5 %

Shares of Flexsteel Industries stock opened at $62.23 on Tuesday. The stock’s 50-day moving average is $55.77 and its 200 day moving average is $43.75. Flexsteel Industries has a one year low of $17.10 and a one year high of $65.87. The firm has a market cap of $324.09 million, a price-to-earnings ratio of 24.60, a PEG 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 (NASDAQ:FLXS) last announced its quarterly earnings data on Monday, October 21st. The company reported $0.74 EPS for the quarter, topping the consensus estimate of $0.62 by $0.12. The company had revenue of $104.01 million during the quarter, compared to the consensus estimate of $101.60 million. Flexsteel Industries had a net margin of 3.30% and a return on equity of 10.09%. During the same quarter last year, the firm posted $0.14 EPS. Equities research analysts anticipate that Flexsteel Industries will post 3.25 EPS for the current year.

Analyst Upgrades and Downgrades

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

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.