Drew Industries Inc., a leading supplier of components for recreational vehicles and manufactured homes, announced Monday (Nov. 26) that its board of directors has approved a special cash dividend of $2.00 per share of common stock.
The dividend is payable on Dec. 20 to stockholders of record at the close of business on Dec. 10, according to a news release.
“This special dividend reflects the board’s confidence in the financial strength of the Company, as well as the Company’s positive long-term outlook,” said Fred Zinn, Drew’s president and CEO. “Our significant cash balance and consistent cash flow provide us the opportunity and resources to take this tangible step in demonstrating our commitment to returning value to our stockholders.”
“Our strong balance sheet will enable us to continue our long-term strategy of growth through acquisitions, market share gains, and new product introductions,” added Joe Giordano, Drew’s CFO and treasurer.