Patrick Industries Increases Regular Quarterly Cash Dividend – RVBusiness – Breaking RV Industry News
Patrick Industries, Inc. (NASDAQ: PATK) today announced that on Nov. 15, 2023, its Board of Directors approved an increase in the amount of its quarterly cash dividend on its common stock to $0.55 per share from $0.45 per share. The dividend is payable on Dec. 11, 2023, to shareholders of record at the close of business on Nov. 27, 2023.
“The decision to increase our quarterly dividend reflects our confidence in our solid balance sheet liquidity position, cash flows, and continued commitment to a disciplined capital allocation strategy, all of which will enable us to grow shareholder value over time,” said Andy Nemeth, chief executive officer of Patrick.
Patrick Industries is a leading component solutions provider for the RV, Marine and Housing markets. Founded in 1959, Patrick is based in Elkhart, Indiana, employing approximately 10,000 team members throughout the United States.