JACKSONVILLE, Fla. - Cadre Holdings, Inc. (NYSE: CDRE), known for manufacturing and distributing safety equipment, has announced an increase in its quarterly cash dividend to $0.095 per share. This adjustment marks a roughly 9% rise from the previous annualized dividend rate of $0.35 per share. The upcoming dividend is scheduled to be paid on February 14, 2025, to stockholders recorded by January 31, 2025. The announcement comes as the company's stock has shown strong momentum, with a 15.45% return over the past week and an 18.24% gain year-to-date, according to InvestingPro data.
The company's decision to enhance the dividend reflects its confidence in the solid fundamentals of its business and its commitment to providing shareholder value. This confidence appears well-founded, as InvestingPro data shows the company maintains a healthy current ratio of 3.01, indicating strong liquidity. Cadre Holdings attributes this financial maneuver to its robust free cash flow, which supports not only dividend growth but also the company's organic expansion and mergers and acquisitions strategy.
Cadre Holdings, headquartered in Jacksonville, Florida, operates globally, supplying critical safety products to law enforcement, first responders, military personnel, and those in the nuclear sector. With a market capitalization of $1.55 billion, the company has established a significant presence in the safety equipment industry. Its product lineup includes body armor, explosive ordnance disposal equipment, and nuclear safety products, serving customers in over 100 countries. The company's portfolio features well-known brands such as Safariland® and Med-Eng®.
The information regarding Cadre Holdings' dividend increase is based on a press release statement. Investors should note that forward-looking statements involve risks and uncertainties, and actual results may differ from those projected. The company cautions that these forward-looking statements are not guarantees of future performance, and it assumes no obligation to update any such statements in the future. For deeper insights into Cadre Holdings' valuation and financial health metrics, investors can access the comprehensive Pro Research Report available on InvestingPro, which includes additional analysis and key performance indicators.
In other recent news, Cadre Holdings has announced key developments. The company reported its third quarter 2024 financial results, shedding light on its performance and future expectations. While acknowledging the potential risks and uncertainties in the markets it operates in, Cadre's management expressed confidence in their estimates and assumptions. Supplemental presentation materials were released on the company's website to provide further insights into its financial status.
In addition, Cadre Holdings appointed Mr. Gianmaria Delzanno as a new independent director and board member, following the resignation of Mr. Nicholas Sokolow. Delzanno brings over four decades of experience in finance, with expertise in mergers and acquisitions, corporate financing, and equity offerings. The company's board has expanded from five to six directors with this appointment, and Delzanno is set to assume the roles of lead independent director and chairman of the Nominating and Corporate Governance Committee.
Furthermore, Cadre Holdings' board of directors approved the Second Amended and Restated Bylaws, which took effect immediately. These revisions include updated advance notice requirements for stockholder proposals and director nominations, changes to the rules regarding stockholder lists for meetings, and adjustments to the formation of board committees. This is in line with the company's ongoing governance and leadership strategy. These are part of the recent developments within Cadre Holdings.
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