LCI Industries declares quarterly cash dividend and announces share repurchase authorization
by Lippert 16 May 10:45 PDT
LCI Industries (NYSE: LCII), a leading supplier of engineered components to the recreation and transportation markets, today announced that its Board of Directors approved a regular quarterly cash dividend of $1.15 per share of common stock and authorized a new $300 million stock repurchase program over the next three years.
The dividend is payable on June 13, 2025, to stockholders of record at the close of business on May 30, 2025.
"This stock repurchase program reflects the Board of Directors' and senior management's commitment to strategic capital deployment that enhances shareholder value, underscoring our confidence in LCI Industries' long-term growth strategy. Our strong operating cash flows, balance sheet, and borrowing capacity give us the flexibility to return capital to shareholders while investing in our business to drive growth and innovation, pursue strategic acquisitions, and maintain appropriate debt levels," said Jason Lippert, LCI Industries' President and Chief Executive Officer.
The timing of stock repurchases and the number of shares will depend upon the market conditions and other factors. Share repurchases, if any, will be made in the open market and in privately negotiated transactions in accordance with applicable securities laws. The stock repurchase program may be modified, suspended, or terminated at any time by the Board of Directors. Repurchases under the stock repurchase program will be funded from the Company's existing cash and cash equivalents, future cash flows, and its existing revolving line of credit.