Flexsteel Industries, Inc. (FLXS) To Go Ex-Dividend on September 25th

Flexsteel Industries, Inc. (NASDAQ:FLXS) declared a quarterly dividend on Tuesday, September 10th, Zacks reports. Stockholders of record on Wednesday, September 25th will be paid a dividend of 0.17 per share on Monday, October 7th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.63%. The ex-dividend date is Wednesday, September 25th. This is a positive change from Flexsteel Industries’s previous quarterly dividend of $0.15.

Flexsteel Industries has increased its dividend by an average of 12.6% per year over the last three years. Flexsteel Industries has a dividend payout ratio of 22.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Flexsteel Industries to earn $3.57 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 19.0%.

Flexsteel Industries Stock Up 4.5 %

FLXS stock traded up $1.79 on Thursday, hitting $41.63. 3,071 shares of the company’s stock were exchanged, compared to its average volume of 31,442. The stock has a market cap of $214.64 million, a P/E ratio of 13.71, a price-to-earnings-growth ratio of 1.08 and a beta of 0.46. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.97 and a current ratio of 2.57. The firm has a 50 day moving average price of $37.14 and a two-hundred day moving average price of $36.03. Flexsteel Industries has a 12-month low of $15.67 and a 12-month high of $43.60.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of 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.