Published:
Raven Industries Board Announces 18.2 Percent Increase in Quarterly Cash Dividend to $0.13 Cents; Marks 22nd-Consecutive Year of Higher Dividends
SIOUX FALLS, S.D., March 17 /PRNewswire-FirstCall/ -- Raven Industries,
Inc. (Nasdaq: RAVN) announced today that its board of directors approved an
18.2 percent increase in the company's regular quarterly cash dividend to
$0.13 per share. The dividend is payable April 15, 2008, to shareholders of
record on March 31, 2008. This is the company's 22nd-consecutive annual cash
dividend increase. The board also increased its authorization under the
company's stock repurchase plan from $2 million to $10 million.
"Raven continues to generate strong cash flows," said Ronald Moquist,
president and chief executive officer. "We believe we can invest in our
growing businesses while increasing cash returns to our shareholders."
The company reported earlier this month that net earnings per share for
its just-completed fiscal year increased 10 percent, reaching $1.53.
About Raven Industries, Inc.
Raven is an industrial manufacturer that provides electronic precision-
agriculture products, reinforced plastic sheeting, electronics manufacturing
services and specialty aerostats and sewn products to niche markets.
On the Internet, information is available at the company's website,
http://www.ravenind.com.
SOURCE Raven Industries, Inc.
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