DUBUQUE, Iowa--Flexsteel Industries, Inc. (NASDAQ: FLXS) The Board of Directors of Flexsteel Industries, Inc. approved a 50% increase in the Company's quarterly dividend by declaring $0.15 per share dividend payable July 2, 2012 to shareholders of record as of June 15, 2012. This is the third increase since March 2009 when the dividend was $0.05 per share. The Board of Directors emphasized their commitment to improve shareholder value through increased dividends based upon sustainable earnings per share.
Flexsteel has paid cash dividends on its common stock each year since 1938. This is the 282nd consecutive quarterly cash dividend. The Company has no restrictions on the payment of dividends. The Company believes that its cash flow and operating income levels are supportive of the current dividend.
Flexsteel Industries, Inc. is headquartered in Dubuque, Iowa, and was incorporated in 1929. Flexsteel is a designer, manufacturer, importer and marketer of quality upholstered and wood furniture for residential, recreational vehicle, office, hospitality and healthcare markets. All products are distributed nationally.