Insteel Industries Declares Quarterly Cash Dividend
Rhea-AI Summary
Insteel Industries Inc. (NYSE: IIIN) declared a quarterly cash dividend of $0.03 per share on May 18, 2021. This dividend is payable on June 25, 2021 to shareholders on record as of June 11, 2021. Insteel is the largest manufacturer of steel wire reinforcing products for the concrete construction industry, operating ten facilities across the U.S. The company focuses on producing prestressed concrete strands and welded wire reinforcement primarily for nonresidential construction.
Positive
- Quarterly cash dividend of $0.03 per share, increasing shareholder income.
- Demonstrates company confidence and commitment to returning value to shareholders.
Negative
- None.
News Market Reaction – IIIN
In the trading session that priced this news, IIIN declined 1.57%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
MOUNT AIRY, N.C., May 18, 2021 /PRNewswire/ -- Insteel Industries Inc. (NYSE: IIIN) today announced that its board of directors declared a quarterly cash dividend of
About Insteel
Insteel is the nation's largest manufacturer of steel wire reinforcing products for concrete construction applications. Insteel manufactures and markets prestressed concrete strand and welded wire reinforcement, including engineered structural mesh, concrete pipe reinforcement and standard welded wire reinforcement. Insteel's products are sold primarily to manufacturers of concrete products and concrete contractors for use, primarily, in nonresidential construction applications. Headquartered in Mount Airy, North Carolina, Insteel operates ten manufacturing facilities located in the United States.
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SOURCE Insteel Industries Inc.