NELSONVILLE, Ohio - Rocky Brands , Inc. (NASDAQ:RCKY), a recognized designer and marketer of premium footwear and apparel, has declared a quarterly cash dividend of $0.155 per share. The dividend is payable on March 18, 2024, to shareholders of record at the close of business on March 4, 2024.
This announcement comes as part of the company's regular quarterly financial activities. Rocky Brands emphasized that the continuation of these dividends would be assessed by the board of directors each quarter. The board retains the discretion to set record dates and payment dates for future dividends based on the company's performance and other relevant factors.
Rocky Brands' portfolio includes several well-known brands such as Rocky®, Georgia Boot®, Durango®, and The Original Muck Boot Company®, among others. The company has established itself in the market by offering a wide range of high-quality footwear and apparel.
The press release also contained forward-looking statements that are subject to risks and uncertainties, which could cause actual results to differ from projected outcomes. These statements are based on the company's intentions, beliefs, and expectations as of the current date. However, no assurance can be given that these forward-looking statements will prove to be accurate, and they should not be relied upon as guarantees of future performance.
The information regarding the dividend declaration is based on the company's recent press release statement. Rocky Brands has made it clear that its financial decisions, including the declaration of dividends, are made with careful consideration of the company's financial health and market position.
Investors and those interested in the company's financial policies can refer to Rocky Brands' periodic reports filed with the Securities and Exchange Commission for more detailed information. These filings include the company's annual report and quarterly reports, which outline the financial results and risks associated with the company's operations.
Rocky Brands has not provided any guidance on future dividends beyond the current declaration, underscoring the board's role in determining the company's dividend policy going forward.
InvestingPro Insights
Rocky Brands, Inc. (NASDAQ:RCKY) has consistently maintained its dividend payments for 11 consecutive years, signaling a strong commitment to shareholder returns. This dedication is further underlined by the recent announcement of their quarterly cash dividend. Investors who value steady income streams might find this aspect of the company's financial policy reassuring.
InvestingPro Tips for RCKY highlight a valuation that implies a robust free cash flow yield, suggesting that the company is generating ample cash relative to its share price. This is a positive sign for investors looking for companies that can sustain or potentially increase their dividend payments. Additionally, despite analysts anticipating a sales decline in the current year, the company's liquid assets exceeding short-term obligations provide a cushion that supports financial flexibility.
Key InvestingPro Data metrics for RCKY include:
- Market Cap (Adjusted): $226.06M USD
- P/E Ratio (Adjusted) last twelve months as of Q3 2023: 17.6
- Dividend Yield as of the last dividend declaration: 2.12%
The company's valuation and its ability to maintain dividend payments, even in the face of expected sales declines, may be of particular interest to investors. For those looking to explore further, there are additional InvestingPro Tips available, offering deeper insights into Rocky Brands' financial health and future prospects. Use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription at InvestingPro, where you can find a total of 10 InvestingPro Tips for RCKY.
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