Lakeland Industries declares $0.03 quarterly dividend

HUNTSVILLE, AL - Lakeland Industries , Inc. (NASDAQ:LAKE), known for its industrial protective clothing production, has announced a cash dividend for the fiscal fourth quarter of 2025. The dividend, set at $0.03 per share, is scheduled for payment on November 22, 2024, to shareholders who are on record as of November 15, 2024.

This decision by Lakeland's Board of Directors follows the company's practice of providing returns to its investors and reflects its financial policies. The dividend is applicable to the company's current fiscal year earnings.

Lakeland Industries has a diverse product portfolio that caters to a wide range of industries, including healthcare, first responders, and various manufacturing sectors. Its protective clothing and accessories are distributed globally, reaching over 2,000 safety and industrial supply distributors. The company's distribution network extends to end users such as the oil, chemical, electronics, and pharmaceutical industries, as well as governmental agencies and departments.

The company's international sales span more than 50 countries, with significant markets in China, the European Economic Community, Canada, and various countries in South America and Asia-Pacific.

While the press release includes forward-looking statements regarding the company's financial performance and strategies, it also cautions that these statements involve risks and uncertainties. It is important to note that future results may differ materially from current expectations due to various factors.

The information for this report is based on a press release statement from Lakeland Industries, Inc. The company has not provided further details on the expected financial performance for the remainder of the fiscal year or on any specific operational strategies moving forward.

Investors and stakeholders in Lakeland Industries can view this dividend announcement as part of the company's ongoing financial management practices. It remains essential for interested parties to consider the forward-looking statements with an understanding of the potential risks and uncertainties involved.

In other recent news, Lakeland Industries has been making significant moves in its operations. The company recently appointed RSM US LLP as its new independent auditor, replacing Deloitte & Touche LLP, a change that was carried out without any disagreements on accounting principles or practices, financial statement disclosure, or auditing scope or procedures. This move follows a previous identification of a material weakness in internal controls over financial reporting, which has since been remedied.

Lakeland Industries also reported a mixed fiscal second quarter for 2025. Despite facing an operating loss due to integration and acquisition-related costs, the company saw a 16% rise in trailing twelve-month revenue, reaching $38.5 million. This was accompanied by a slight decrease in the gross profit margin from 42.9% to 39.6%, resulting in a net loss of $1.4 million.

In addition, the company's acquisition of LHD has expanded its fire services globally and introduced a new recurring revenue stream. Despite a minor decline in sales in the US and Europe, growth was observed in Latin America and other markets. Looking ahead, Lakeland Industries maintains its fiscal year 2025 revenue guidance of $160 million to $170 million and adjusted EBITDA of $18 million to $21.5 million. These recent developments indicate that Lakeland Industries is actively working to navigate current challenges and capitalize on new opportunities.

InvestingPro Insights

Lakeland Industries' recent dividend announcement aligns with its financial stability and commitment to shareholder returns. According to InvestingPro data, the company's dividend yield stands at 0.65%, with the last ex-dividend date on August 15, 2024. This regular dividend payout is supported by Lakeland's solid financial position, as evidenced by an InvestingPro Tip indicating that the company's liquid assets exceed its short-term obligations.

Despite recent market volatility, with the stock taking a significant hit over the last week (-8.2% total return) and three months (-20.18% total return), Lakeland Industries maintains a positive outlook. Analysts anticipate sales growth in the current year, which is reflected in the company's revenue growth of 15.6% over the last twelve months. This growth trajectory supports the company's ability to sustain its dividend payments.

It's worth noting that Lakeland Industries is trading at a high earnings multiple, with a P/E ratio of 74.81. This valuation suggests that investors have high expectations for future growth, which aligns with the company's global expansion and diverse product portfolio mentioned in the article.

For investors seeking a more comprehensive analysis, InvestingPro offers 10 additional tips for Lakeland Industries, providing deeper insights into the company's financial health and market position.

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