Raven Industries Board Announces 26th Consecutive Annual Dividend Increase to 21 Cents Payable on April 25, 2012
SIOUX FALLS, S.D., March 26, 2012 (GLOBE NEWSWIRE) -- Raven Industries, Inc. (RAVN) announced today that its board of directors approved a 17 percent increase in the company's regular quarterly cash dividend to 21 cents per share. The dividend is payable April 25, 2012 to shareholders of record on April 10, 2012. This is the company's 26th consecutive annual cash dividend increase.
"Increasing cash returns to shareholders has a long history at Raven," said Daniel A. Rykhus, Raven President and Chief Executive Officer. "This is the 40th consecutive year our shareholders have been paid a dividend. We have confidence in our ability to raise the dividend and still make the investments required to grow the business."
On March 13, 2012, Raven reported record net income of $2.77 per share, an increase of 24 percent over the previous year's record.
About Raven Industries, Inc.
Since 1956, Raven Industries has designed and manufactured high-quality, high-value technical products. Raven is publicly traded on NASDAQ (RAVN) and has earned an international reputation for innovation, product quality, high performance and unmatched service. With strengths in engineering, manufacturing, and technological innovation, Raven serves the precision agriculture, high performance specialty films, aerospace, and electronic manufacturing services markets.
On the Internet, information is available at the company's website, www.ravenind.com .
The Raven Industries, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=9627
CONTACT: AT THE COMPANY: Tom Iacarella Vice President & CFO (605) 336-2750 AT FINANCIAL RELATIONS BOARD: Scott Eckstein Analyst/Media Inquiries (212) 827-3766
Source: Raven Industries, Inc. 2012 GlobeNewswire, Inc.