Crown Crafts Announces Quarterly Cash Dividend
19 May 2015 - 9:00PM
Crown Crafts, Inc. (Nasdaq:CRWS) 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 2, 2015 to
stockholders of record at the close of business on June 12, 2015.
Based on the current share price of $8.19, this dividend rate
represents a return of 3.9% on an annualized basis.
"Our quarterly dividend payment reflects our Board's recognition
of the continued strengths of our business, our people and our
financial position," said E. Randall Chestnut, Chairman, President
and Chief Executive Officer.
About Crown Crafts, Inc.
Crown Crafts, Inc. designs, markets and distributes infant,
toddler and juvenile consumer products, including crib and toddler
bedding and blankets; nursery and bath accessories; reusable and
disposable bibs and floor mats; burp cloths; room décor; and
disposable placemats, toilet seat covers and changing mats. The
Company's operating subsidiaries include Crown Crafts Infant
Products, Inc. in California and Hamco, Inc. in Louisiana. Crown
Crafts is America's largest producer of infant bedding, bibs and
bath items. The Company's products include licensed and branded
collections as well as exclusive private label programs for certain
of its customers. The latest news about Crown Crafts can be found
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, 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 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.
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: Olivia Elliott
Vice President and Chief Financial Officer
(225) 647-9124
oelliott@crowncrafts.com
or
Halliburton Investor Relations
(972) 458-8000
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