LCI Industries sets quarterly dividend at $1.05 per share

ELKHART, Ind. - LCI Industries (NYSE: NYSE:LCII), a supplier of highly engineered components for OEMs in the recreation and transportation industries, has declared a regular quarterly cash dividend of $1.05 per share of common stock. The dividend is scheduled for payment on September 13, 2024, to shareholders on record as of August 30, 2024.

This announcement comes as part of the company's ongoing commitment to return value to its stockholders and reflects confidence in its financial stability and cash flow generation. LCI Industries, through its subsidiary Lippert, operates both domestically and internationally, providing a wide range of components to OEMs in various markets, including recreational vehicles and adjacent industries.

The company's extensive product portfolio includes items such as steel chassis, axles, suspension solutions, slide-out mechanisms, and a variety of other components essential to the construction and functionality of recreational and transportation vehicles. Lippert also caters to the aftermarket by selling directly to retail dealers, distributors, service centers, and customers online.

LCI Industries cautions that this press release contains forward-looking statements, which involve risks and uncertainties. These statements are not guarantees of future performance, and actual results may differ materially. Factors that could influence the company's results include market conditions, competition, material costs, and other risks outlined in their Annual Report on Form 10-K for the year ended December 31, 2023, and subsequent SEC filings.

The forward-looking statements in the press release, including those regarding financial conditions, profitability, and business strategies, are based on the best judgment of the company's senior management at the time they were made. Investors are advised not to place undue reliance on these statements, which speak only as of the date they were made.

This dividend announcement is based on a press release statement from LCI Industries. It is a routine financial update for the company's investors and does not necessarily indicate broader industry trends or significant changes in the company's operations or strategy.

In other recent news, LCI Industries, a leading supplier of components for the recreational vehicle (RV) and related industries, posted a 4% year-over-year increase in total revenue for the second quarter of 2024, totaling $1.1 billion. This growth was accompanied by significant margin expansion and market share gains, particularly in the RV OEM and aftermarket businesses. The company also reported generating $439 million in operating cash flows over the past 12 months.

LCI Industries' acquisition of Camping World's furniture business led to a notable 30% increase in aftermarket sales. However, the company did experience a 12% decline in revenues in the North American Marine and adjacent markets. Despite this, LCI Industries remains optimistic about future growth, with a focus on innovation and strong customer relationships.

Analysts have noted a potential decline in overall revenues by about 5% in the third quarter, with marine sales expected to decrease by around 20% in the same period. However, LCI Industries' CEO, Jason Lippert, anticipates mid-single digit growth for the RV industry in the coming year. The company is also focused on capturing strategic growth opportunities and optimizing manufacturing, indicating recent developments in their business strategy.

InvestingPro Insights

LCI Industries (NYSE: LCII) has recently affirmed its commitment to shareholder returns by announcing a quarterly cash dividend. In line with this, InvestingPro data reveals that the company has a market capitalization of approximately $2.89 billion and a P/E ratio of 23.82. Notably, LCI Industries has a history of rewarding investors, having raised its dividend for 7 consecutive years, a testament to its financial stability and a likely factor in its dividend policy.

InvestingPro Tips highlight that LCI Industries is expected to see net income growth this year. This is a crucial indicator of the company's robust financial health and its ability to maintain or even increase dividend payments in the future. Additionally, the company is trading at a low P/E ratio relative to near-term earnings growth, which might appeal to value-oriented investors looking for potential bargains in the stock market.

For investors seeking more comprehensive analysis, there are over 8 additional InvestingPro Tips available at https://www.investing.com/pro/LCII. These tips could provide deeper insights into LCI Industries' financial outlook, market positioning, and potential investment opportunities.

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