LCI Industries authorized a quarterly cash dividend and a stock repurchase program. LCI supplies engineered components to RV OEMs and aftermarkets through its wholly-owned subsidiary Lippert Components, Inc.
LCI’s Board of Directors approved a regular quarterly cash dividend of $1.05 per share of common stock. The dividend is payable on June 17, 2022, to stockholders of record at the close of business on June 3, 2022.
The Board of Directors also authorized a new $200 million stock repurchase program over the next three years.
“This repurchase program demonstrates the board of directors’ and senior management’s commitment to deploying capital that will create value for shareholders, underscoring our confidence in LCI’s long-term growth objectives,” said Jason Lippert, LCI Industries’ president, and CEO. “Our strong operating cash flows, balance sheet, and borrowing capacity give us the flexibility to return capital to shareholders while making further investments in our business to drive growth and innovation, pursue strategic acquisitions and maintain appropriate debt levels.”
