EAST GREENVILLE, Pa., May 07, 2019 (GLOBE NEWSWIRE) -- Knoll, Inc., (KNL), a leading designer and manufacturer of furnishings and coverings for the workplace and home, today announced that the Company's Board of Directors declared an increase in the Company's quarterly cash dividend to $0.17 per share from $0.15 payable June 28, 2019 to shareholders of record on June 14, 2019.
Commenting on the dividend increase, Andrew Cogan, Knoll Chairman and CEO, said, “We have increased our quarterly dividend based on our confidence in our prospects and the effectivity of our strategy to diversify our sources of revenue into higher margin Lifestyle categories with both residential and crossover workplace applicability as well as our success in improving the profitability of our Office segment. In addition, we will continue to use our free cash to invest organically in the business, take advantage of acquisitions that further our strategy and reduce our debt.”
The declaration and payment of dividends is subject to the discretion of the Board of Directors and depends on various factors, including our net income, restrictions in our credit facility, financial position, cash requirements and other factors deemed relevant by our Board of Directors.
Certain statements in this press release may be forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and are subject to the safe harbor created thereby. Please refer to our public filings for a discussion of certain important factors that relate to forward-looking statements contained in this press release. The words "believe," "expect," "anticipate," "estimate," "guidance," "target," "intend" and similar expressions identify forward-looking statements. Although we believe that the expectations reflected in these forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct.
Knoll, Inc. is a constellation of design-driven brands and people, working together with our clients to create inspired modern interiors. Our internationally recognized portfolio includes furniture, textiles, leathers, lighting, accessories, and architectural and acoustical elements brands. These brands — Knoll Office, KnollStudio, KnollTextiles, KnollExtra, Spinneybeck | FilzFelt, Edelman Leather, HOLLY HUNT, DatesWeiser and Muuto — reflect our commitment to modern design that meets the diverse requirements of high-performance workplaces and luxury interiors. A recipient of the National Design Award for Corporate and Institutional Achievement from the Smithsonian`s Cooper-Hewitt, National Design Museum, Knoll, Inc. is aligned with the U.S. Green Building Council and the Canadian Green Building Council and can help organizations achieve the Leadership in Energy and Environmental Design (LEED) workplace certification. Knoll, Inc. is the founding sponsor of the World Monuments Fund Modernism at Risk program.
Senior Vice President and Chief Financial Officer
Tel 215 679-1703
David E. Bright
Senior Vice President, Communications
Tel 212 343-4135