The Board of Directors of Ennis, Inc. (NYSE: EBF), consistent with its review of its dividend policy, has declared an accelerated third and fourth quarter cash dividend totaling $0.35 per share of outstanding common stock. This accelerated dividend is intended by the Board to be in lieu of quarterly dividends Ennis would have otherwise announced with its quarterly earnings results for the third and fourth quarters of fiscal year 2013, and that would have been paid in calendar year 2013. This accelerated dividend will be paid on December 28, 2012 to shareholders of record on December 20, 2012.
The Board felt that with fiscal and federal tax rate issues unresolved at this point of time, despite the ongoing negotiations to hopefully resolve these issues, it would be in the best interest of our shareholders to move up the dividend payment for the last two quarters of the current fiscal year.
The next scheduled opportunity for the Board to consider and approve the declaration of a dividend will be when Ennis announces it earnings results for the first quarter of fiscal year 2014 which ends on May 31, 2013.
Ennis, Inc. (
) is primarily engaged in the production of and sale of business forms, apparel and other business products. The Company is one of the largest private-label printed business product suppliers in the United States. Headquartered in Midlothian, Texas, the Company has production and distribution facilities strategically located throughout the United States of America, Mexico and Canada, to serve the Company's national network of distributors. The Company, together with its subsidiaries, operates in two business segments: the Print Segment ("Print") and Apparel Segment ("Apparel"). The Print Segment is primarily engaged in the business of manufacturing and selling business forms, other printed business products, printed and electronic media, presentation products, flex-o-graphic printing, advertising specialties and Post-it Notes®, internal bank forms, plastic cards, secure and negotiable documents, envelopes and other custom products. The Apparel Segment manufactures T-Shirts and distributes T-Shirts and other active-wear apparel through nine distribution centers located throughout North America.