Encore Wire (NASDAQ:WIRE), like a strip of its namesake product, seems to believe in keeping its shareholder payouts long and straight. The company has declared a quarterly dividend of $0.02 per share, to be paid on July 19 to shareholders of record as of July 5. That amount is in line with every one of the firm's previous distributions stretching back to early 2007.
In its press release announcing the move, Encore Wire sounded a conservative note about its future. It quoted CEO Daniel Jones as saying that, "We will continue to manage the Company for the long-term and strive to protect our strong balance sheet."
The current dividend annualizes to $0.08 per share. That yields 0.2% at Encore Wire's most recent closing stock price of $33.93.
Fool contributor Eric Volkman has no position in Encore Wire. Nor does The Motley Fool. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.