Thank you. That increase will just about pay for the new iPad I just bought. Ha ha. That has them paying about 1/3 of their earnings to the shareholders, not counting any special dividends. Should be no problem and still leave them with plenty of cash flow to grow the company.
SIOUX FALLS, S.D., March 25, 2013 (GLOBE NEWSWIRE) -- Raven Industries, Inc. (RAVN) announced today that its board of directors has approved a 14 percent increase in the company's regular quarterly cash dividend to 12.0 cents per share. The dividend is payable April 25, 2013, to shareholders of record on April 10, 2013. This is Raven's 27th consecutive annual cash dividend increase.
"We are committed to returning cash to our shareholders," said Daniel A. Rykhus, Raven's president and chief executive officer. "We're confident in our ability to invest in our business and reward our shareholders—a hallmark of the Raven model."
On March 12, 2013, Raven reported net income of $1.44 per share, a 4 percent increase over the prior-year's record.