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DUBUQUE, Iowa - Flexsteel Industries, Inc. (NASDAQ:FLXS) announced Wednesday that its Board of Directors has declared a quarterly dividend of $0.20 per share, representing an increase of over 17% from its previous quarterly payment. The increase aligns with the company’s strong dividend growth of 13.33% over the last twelve months, yielding 2.12% annually.
The dividend will be payable on July 7, 2025, to shareholders of record as of June 25, 2025, according to a press release statement from the company.
This marks the 334th consecutive quarterly cash dividend for Flexsteel, which has maintained an unbroken record of dividend payments since 1938.
Flexsteel Industries is among the largest manufacturers, importers, and marketers of residential furniture in the United States. The company’s product range includes sofas, chairs, dining furniture, bedroom sets, and outdoor furniture.
The company distributes its products throughout the United States through e-commerce channels and a direct sales force.
In other recent news, Flexsteel Industries Inc. reported impressive third-quarter earnings, surpassing analyst expectations. The company achieved an earnings per share (EPS) of $1.13, significantly higher than the forecasted $0.81, and reported revenue of $114 million, exceeding projections of $109.47 million. This marks a 6.3% year-over-year revenue growth, highlighting Flexsteel’s ability to navigate market challenges. Additionally, Flexsteel introduced 25 new product groups, demonstrating its commitment to innovation and enhancing its product pipeline. In a strategic move, the company continues to shift production from China to Vietnam and Mexico. In other developments, Flexsteel appointed Terence P. Calloway as an independent director to its Board, bringing extensive experience in product innovation and supply chain management from his previous roles at companies like Energizer Holdings and Colgate-Palmolive. Analysts from Sidoti and Company have shown interest in Flexsteel’s strategies, particularly in how the company plans to handle potential tariff impacts and maintain its competitive edge. The company’s leadership, including CEO Derek Schmidt, remains focused on executing growth strategies and enhancing customer experience amid a dynamic economic environment.
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