Universal Forest Products, Inc. (Nasdaq: UFPI) today announced that the Company’s Board of Directors approved a semiannual dividend of $0.20 per share at their April 18, 2012 board meeting. The dividend is payable on June 15, 2012 to shareholders of record on June 1, 2012.
“With this, we mark 30 consecutive years of offering a dividend to shareholders who demonstrate their trust and belief in our company through their investment,” said Chairman William G. Currie. “This is more than a token of appreciation; it’s our philosophy to reward those who make our success possible. Our shareholders are critical to our success and we place great weight in their decision to invest in us.
“CEO Matt Missad, his leadership team and the rest of the people of this great company are hard at work creating profitability in this new economy,” he added. “We’re focused on ensuring that Universal remains a rewarding investment and a company of integrity, opportunity and success.”
The board also welcomed a new director, Thomas W. Rhodes, president and chief executive officer of TWR Enterprises, Inc., in Corona, Calif., the largest framing contractor in Southern California, which he founded in 1984. His appointment was approved at the annual shareholder meeting on April 18, 2012.“Tom will be a great asset to the board and the Company and will use his vast experience to provide solid guidance,” Currie said. “We welcome him to the Board of Directors and look forward to his contributions.” Also approved at the annual shareholder meeting:
- An amendment to increase from 100,000 to 150,000 the number of shares available for issuance under the Director Retainer Stock Plan.
- The appointment of Ernst & Young LLP as the Company’s independent registered public accounting firm for fiscal 2012.
- Executive compensation, as an advisory vote.
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