CSW Industrials Declares Quarterly Dividend of $0.17 Per Share and Provides an Update on Share Repurchases
DALLAS, July 15, 2022 (GLOBE NEWSWIRE) — The Board of Directors of CSW Industrials, Inc. (Nasdaq: CSWI) today declared a regular quarterly cash dividend of $0.17 per share. The dividend is payable on August 12, 2022, to shareholders of record as of the close of business on July 29, 2022.
During the fiscal 2023 first quarter ended June 30, 2022, CSWI repurchased 287,990 shares for an aggregate purchase price of $30.5 million under its current $100 million share repurchase authorization. Since inception of the current authorization, and through July 14, 2022, CSWI repurchased 446,620 shares for an aggregate purchase price of $48.3 million. CSWI initiated its inaugural share repurchase program in the fiscal 2018 third quarter and, since that time, has cumulatively returned $129.3 million to shareholders through the purchase of 1.8 million shares.
“We continued to execute on our capital allocation strategy this quarter with additional share repurchases and the declaration of our dividend. We continue to seek opportunities to deploy capital with attractive risk-adjusted returns through the numerous avenues available to us,” said Joseph B. Armes, CSW Industrials Chairman, President, and Chief Executive Officer.
| Details | ||
| Dividend Amount: | $0.17 | |
| Record Date: | July 29, 2022 | |
| Payable Date: | August 12, 2022 | |
About CSW Industrials
CSW Industrials is a diversified industrial growth company with industry-leading operations in three segments: Contractor Solutions, Engineered Building Solutions, and Specialized Reliability Solutions. CSWI provides niche, value-added products with two essential commonalities: performance and reliability. The primary end markets we serve with our well-known brands include: HVAC/R, plumbing, electrical, general industrial, architecturally-specified building products, energy, mining, and rail. For more information, please visit www.cswindustrials.com.
Safe Harbor Statement
This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. Words or phrases such as “may,” “should,” “expects,” “could,” “intends,” “plans,” “anticipates,” “estimates,” “believes,” “forecasts,” “predicts” or other similar expressions are intended to identify forward-looking statements, which include, without limitation, earnings forecasts, effective tax rate, statements relating to our business strategy and statements of expectations, beliefs, future plans and strategies and anticipated developments concerning our industry, business, operations and financial performance and condition.
The forward-looking statements included in this press release are based on our current expectations, projections, estimates and assumptions. These statements are only predictions, not guarantees. Such forward-looking statements are subject to numerous risks and uncertainties that are difficult to predict. These risks and uncertainties may cause actual results to differ materially from what is forecast in such forward-looking statements, and include, without limitation, the risk factors described from time to time in our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K.
All forward-looking statements included in this press release are based on information currently available to us, and we assume no obligation to update any forward-looking statement except as may be required by law.
Investor Relations
Adrianne D. Griffin
Vice President, Investor Relations, & Treasurer
214-489-7113
adrianne.griffin@cswi.com
