Crown Crafts Announces Quarterly Cash Dividend
16 5월 2023 - 5:36AM
Crown Crafts, Inc. (NASDAQ-CM: CRWS) (the “Company”) announced
today that its Board of Directors has declared a quarterly cash
dividend on its Series A common stock of $0.08 per share to be paid
on July 7, 2023 to stockholders of record at the close of business
on June 16, 2023.
“I am pleased that our Board has declared this
dividend, which reflects their belief in the underlying financial
strength of our business,” said Olivia W. Elliott, President and
Chief Executive Officer of the Company. “We are proud of our
history of dividend payments over the past thirteen years, and we
intend to continue to operate our business in a manner that
generates strong cash flow and delivers sustainable value to our
stockholders.”
About Crown Crafts, Inc.
Crown Crafts, Inc. designs, markets and
distributes infant, toddler and juvenile consumer products. Founded
in 1957, Crown Crafts is one of America’s largest producers of
infant bedding, toddler bedding, bibs, toys and disposable
products. The Company operates through its four wholly owned
subsidiaries, NoJo Baby & Kids, Inc., Sassy Baby, Inc.,
Manhattan Group, LLC and Manhattan Toy Europe, Limited, which
market a variety of infant, toddler and juvenile products under
Company-owned trademarks, as well as licensed collections and
exclusive private label programs. Sales are made directly to
retailers such as mass merchants, large chain stores and juvenile
specialty stores. For more information, visit the Company’s website
at www.crowncrafts.com.
Forward-Looking Statements
The foregoing contains forward-looking
statements within the meaning of the Securities Act of 1933, the
Securities Exchange Act of 1934 and the Private Securities
Litigation Reform Act of 1995. Such statements are based upon
management’s current expectations, projections, estimates and
assumptions. Words such as “expects,” “believes,” “anticipates” and
variations of such words and similar expressions identify such
forward-looking statements. Forward-looking statements involve
known and unknown risks and uncertainties that may cause future
results to differ materially from those suggested by the
forward-looking statements. These risks include, among others, the
impact of the COVID-19 pandemic on the Company’s business
operations, general economic conditions, including changes in
interest rates, in the overall level of consumer spending and in
the price of oil, cotton and other raw materials used in the
Company’s products, changing competition, changes in the retail
environment, the Company’s ability to successfully integrate newly
acquired businesses, the level and pricing of future orders from
the Company’s customers, the extent to which the Company’s business
is concentrated in a small number of customers, the Company’s
dependence upon third-party suppliers, including some located in
foreign countries, customer acceptance of both new designs and
newly-introduced product lines, actions of competitors that may
impact the Company’s business, disruptions to transportation
systems or shipping lanes used by the Company or its suppliers, and
the Company’s dependence upon licenses from third parties. Also, in
regard to the Company’s dividend announced today and its history of
paying dividends, the declaration of each dividend is at the
discretion of the Company’s Board of Directors and the Company
expressly disclaims any assurances as to the frequency and amount
of any future dividends. Reference is also made to the
Company’s periodic filings with the Securities and Exchange
Commission for additional factors that may impact the Company’s
results of operations and financial condition. The Company does not
undertake to update the forward-looking statements contained herein
to conform to actual results or changes in our expectations,
whether as a result of new information, future events or
otherwise.
Contact:
Craig J. DemarestVice President and Chief Financial Officer
(225) 647-9118 cdemarest@crowncrafts.com
Investor Relations:
Three Part AdvisorsSteven Hooser, Partner, or John Beisler,
Senior Vice President(817) 310-8776
Crown Crafts (NASDAQ:CRWS)
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Crown Crafts (NASDAQ:CRWS)
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