GRAND RAPIDS - UFP Industries, Inc. (NASDAQ: UFPI) announced a 10 percent increase in its quarterly dividend, continuing a 12-year streak of dividend growth. The board of directors approved the new dividend of $0.33 per share on February 1, 2024, up from the previous $0.30 per share distributed in December 2023. This decision follows a 32 percent rise from the March 2023 dividend, signaling confidence in the company’s financial health and future prospects.
The increased dividend is set to be paid on March 15, 2024, to shareholders who are on record as of March 1, 2024. Chairman and CEO Matthew J. Missad attributed the rise to UFP Industries’ robust performance and reliable cash flow, which he said enables both investment in growth and sharing of profits with shareholders.
UFP Industries operates through its subsidiaries in various sectors, including packaging, construction, and retail solutions. The company, founded in 1955 and based in Grand Rapids, Michigan, has a global footprint with affiliates across North America, Europe, Asia, and Australia.
The information in this article is based on a press release.
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