Insteel Industries Inc. announced that its board of directors declared a regular quarterly cash dividend of $0.03 per share of common stock. This dividend is scheduled to be paid on December 13, 2024, to shareholders of record as of November 29, 2024.
In a significant move, the company also declared a special cash dividend of $1.00 per share of common stock, payable on the same date and to the same shareholders of record. This special dividend underscores Insteel's robust financial position and its strategy to distribute value to its shareholders.
H.O. Woltz III, Insteel's President and CEO, commented that this approach is an effective method to distribute value while maintaining ample financial flexibility. The company remains debt-free and is well-positioned to pursue future growth opportunities and continue its share buyback program as appropriate.
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