SIOUX FALLS, S.D.--(BUSINESS WIRE)--Raven Industries, Inc. (the Company; NASDAQ:RAVN), announced today that its board of directors has approved a regular quarterly cash dividend of 13 cents per share. The dividend is payable July 31, 2020, to shareholders of record on July 17, 2020.
“We are evaluating our current practice of paying a quarterly dividend and whether it is the best use of capital,” said Dan Rykhus, President and CEO. “We see great opportunity to generate exceptional long-term growth through increased investment in Raven Autonomy™, Raven Composites™, and Aerostar. We will continue to evaluate this as we progress through the year and make the appropriate capital allocations to drive long-term shareholder value creation.”
About Raven Industries, Inc.
Raven Industries (NASDAQ: RAVN) is dedicated to providing innovative, high-value products and solutions that solve great challenges throughout the world. Raven is a leader in precision agriculture, high-performance specialty films, and lighter-than-air technologies. Since 1956, Raven has designed, produced, and delivered exceptional solutions, earning the company a reputation for innovation, product quality, high performance, and unmatched service. For more information, visit http://ravenind.com.