Patrick Industries, Inc. Announces Increase to Regular Quarterly Cash Dividend and Replenished Share Repurchase Authorization

Rhea-AI Summary

Patrick Industries (NASDAQ: PATK) raised its quarterly cash dividend to $0.52 per share, with payment scheduled for December 7, 2026. The dividend, approved November 11, rises from $0.47 per share and is payable to shareholders of record at the close of business on November 23, 2026.

The Board also replenished its share repurchase authorization to $200.0 million over the next 24 months, including $61.9 million remaining under the previous authorization. However, Patrick is currently restricted from repurchasing shares under its June 30, 2026 all-stock merger agreement with LCI Industries. The company expects those restrictions to remain while the agreement is in effect.

3 points · 0 major

PositiveiHow this balance works

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0 major · 1 point

Hollow bars mark forward-looking points. How the balance works

Positive

• Moderate point. Forward-looking: it has not happened yet and may not happen.$200.0 million replenished repurchase authorization covers 24 months, including $61.9 million remaining under the previous authorization. 7.9% of market cap
• Moderate pointShare repurchases totaled $106.1 million in the first nine months of 2026. 4.2% of market cap
• Minor pointQuarterly dividend increased to $0.52 from $0.47 per share, payable December 7, 2026.

Negative

• Moderate point. Forward-looking: it has not happened yet and may not happen.Share repurchases are currently restricted by the LCI Industries merger agreement; Patrick expects restrictions while it remains effective.

Key Figures

Quarterly dividend: $0.52 per share (from $0.47) Repurchase authorization: $200.0 million Dividend record date: November 23, 2026 +1 more

Quarterly dividend

$0.52 per share (from $0.47)

Increase approved November 11, 2026

Repurchase authorization

$200.0 million

For the next 24 months; includes $61.9 million remaining under the previous authorization

Dividend record date

November 23, 2026

Shareholders of record at close of business

Dividend payment date

December 7, 2026

Quarterly cash dividend

Previous Buybacks,dividends Reports

1 past event · Latest: Nov 15

Same Type 1 event

1. Nov 15

   Dividend and buyback

   24h Move

   +2.1%

   Raised the quarterly dividend to $0.60 and expanded repurchase authorization to $200.0 million over 24 months.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

all-stock merger agreement

1 terms

all-stock merger agreement financial

"entered into an all-stock merger agreement with LCI Industries"

A merger agreement in which the buyer pays for the target entirely with shares rather than cash; each holder of the target receives a specified number of the acquirer's shares (or shares of a parent) for each target share. The agreement sets the exchange ratio or formula that determines how many new shares target shareholders get, and the actual dollar value they receive will fluctuate with the acquirer's market price between signing and closing. Such deals transfer ownership by changing who holds the acquirer's stock and often require shareholder approval and may create dilution for existing owners of the acquiring company.

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ELKHART, Ind., Nov. 13, 2026 /PRNewswire/ -- Patrick Industries, Inc. (NASDAQ: PATK) ("Patrick" or the "Company"), today announced that on November 11, 2026, its Board of Directors (the "Board") approved an increase in the amount of its quarterly cash dividend on its common stock to $0.52 per share from $0.47 per share. The dividend is payable on December 7, 2026, to shareholders of record at the close of business on November 23, 2026. Additionally, the Board authorized a replenishment to the amount of the Company's common stock that may be acquired over the next 24 months under the current stock repurchase program to $200.0 million, including the $61.9 million remaining under the previous authorization.

"The increase in our quarterly dividend and renewed share repurchase authorization are grounded in the performance of Patrick's business today: our disciplined capital allocation strategy, the cash our business generates, and our solid balance sheet," said Andy Nemeth, Chief Executive Officer of Patrick. "Since initiating our quarterly dividend in 2019, we have raised it each year and have been active with share repurchases, deploying $106.1 million in the first nine months of 2026. In addition to returning capital to shareholders, our cash generation through the cycle enables investment in our business through organic initiatives and strategic M&A, which we expect to remain a priority. Our commitment to Patrick's shareholders remains steadfast, and the dividend increase and renewed authorization reflect our continued confidence in the long-term earnings power of the business."

As previously announced, on June 30, 2026, Patrick entered into an all-stock merger agreement (the "Agreement") with LCI Industries. In accordance with the operating covenants set forth in the Agreement, the Company is currently restricted from repurchasing shares of its common stock and expects such restrictions to remain in place while the Agreement remains in effect.

About Patrick Industries, Inc.

Patrick (NASDAQ: PATK) is a leading component solutions provider serving original equipment manufacturers and aftermarket customers in the RV, Marine, Powersports and Housing markets. Since 1959, Patrick has empowered manufacturers and outdoor enthusiasts to achieve next-level recreation experiences. Our customer-focused approach brings together design, manufacturing, distribution, and transportation in a full solutions model that defines us as a trusted partner. Patrick is home to more than 85 leading brands, all united by a commitment to quality, customer service, and innovation. Headquartered in Elkhart, IN, Patrick employs approximately 10,000 skilled team members throughout the United States. For more information on Patrick, our brands, and products, please visit www.patrickind.com.

Forward-Looking Statements

This press release contains certain statements related to future results, our intentions, beliefs and expectations or predictions for the future, which are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Any projections of financial performance or statements concerning expectations as to future developments should not be construed in any manner as a guarantee that such results or developments will, in fact, occur. There can be no assurance that any forward-looking statement will be realized or that actual results will not be significantly different from that set forth in such forward-looking statement. Information about certain risks that could affect our business and cause actual results to differ from those expressed or implied in the forward-looking statements is contained in the section entitled "Risk Factors" in the Company's Annual Report on Form 10-K for the year ended December 31, 2025, and in the Company's Forms 10-Q for subsequent quarterly periods, which are filed with the Securities and Exchange Commission ("SEC") and are available on the SEC's website at www.sec.gov. In addition, future dividends are subject to Board approval. Each forward-looking statement speaks only as of the date of this press release, and we undertake no obligation to update any forward-looking statement to reflect events or circumstances occurring after the date on which it is made.

Contact:

Steve O'Hara
Vice President of Investor Relations
oharas@patrickind.com
574.294.7511

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SOURCE Patrick Industries, Inc.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How much is Patrick Industries' increased dividend, and when is it payable?

Patrick Industries increased its quarterly cash dividend to $0.52 per share from $0.47, payable December 7, 2026. Shareholders must be holders of record at the close of business on November 23, 2026.

Can Patrick Industries use its replenished $200 million share repurchase authorization now?

Patrick Industries is currently restricted from repurchasing shares under the operating covenants of its all-stock merger agreement with LCI Industries. The company expects the restrictions to remain while that agreement is in effect. The replenished authorization totals $200.0 million over the next 24 months, including $61.9 million remaining under the previous authorization.