Next dividend of $0.20 per share payable on February 28, 2025 to holders of record on February 3, 2025
BOCA RATON, Fla., Dec. 03, 2024 (GLOBE NEWSWIRE) -- Q.E.P. CO., INC. (OTCQX: QEPC) (the "Company” or "QEP”) today announced that its Board of Directors (the "Board”) has approved a regular quarterly cash dividend policy. The next quarterly cash dividend will be $0.20 per share, payable on February 28, 2025 to holders of record on February 3, 2025.
"We are pleased to introduce this dividend policy as part of our ongoing efforts to enhance stockholder value," said President & CEO, Leonard Gould. "This decision underscores our commitment to disciplined capital management and reflects our confidence in the Company's ability to generate sustained earnings growth."
The Company intends to pay regular quarterly cash dividends for the foreseeable future. However, the amount of any quarterly dividends and the declaration, timing and amount of any other dividends will be subject to the discretion and approval of the Board based on a number of factors, including the Company's financial results, acquisition opportunities, and other factors the Board deems relevant at the time.
In addition to the regular cash dividend, the Company intends to continue to be proactive in considering additional ways of returning capital to stockholders, which may include share repurchases.
About QEP
Founded in 1979, Q.E.P. Co., Inc. is a leading designer, manufacturer and distributor of a broad range of best-in-class flooring installation solutions for commercial and home improvement projects. QEP offers a comprehensive line of specialty installation tools, adhesives, and underlayment. QEP sells its products throughout the world to home improvement retail centers, and professional specialty distribution outlets, under brand names including QEP®, LASH®, ROBERTS®, Capitol®, Premix-Marbletite® (PMM), Brutus®, Homelux®, PRCI®, and Tomecanic®.
QEP is headquartered in Boca Raton, Florida with other facilities in the United States, Canada, Europe and Asia.
Please visit our website at www.qepcorporate.com.
Forward-Looking Statements
All statements contained in this press release, other than statements of historical facts, may constitute forward-looking statements within the meaning of the federal securities laws. These statements can be identified by words such as "expects," "plans," "projects," "will," "may," "anticipates," "believes," "should," "intends," "estimates," and other words of similar meaning. These forward-looking statements include, but are not limited to, statements regarding implementation of the Company's strategies and increasing profitability and stockholder value. Any forward-looking statements contained herein are based on current expectations and beliefs, and are subject to a number of risks and uncertainties, including those listed in the Company's annual report, as such risk factors may be amended, supplemented or superseded from time to time by other reports and disclosures made by the Company. Forward-looking statements may also be adversely affected by general market factors, competitive product development, product availability, federal and state regulations and legislation, manufacturing issues that may arise, patent positions and litigation, scarcity and rising cost for raw materials, shifts in global sourcing patterns, and general inflationary pressures, economic conditions, sales growth, price increases, maintaining and improving profitability, product development and marketing, operating expenses, cost savings, the successful completion of acquisitions and dispositions, acquisition integration, operational synergy realization, global sourcing, political uncertainty, cash flow, debt and currency exchange rates, among other factors. The forward-looking statements contained in this press release speak only as of the date the statements were made, and the Company does not undertake any obligation to update forward-looking statements, except as required by law.
CONTACT:
Q.E.P. Co., Inc.
Enos Brown
Executive Vice President and
Chief Financial Officer
561-994-5550
