Financial Releases

Management Cites Continuing 'Solid Performance' in Sales and Earnings and Expected Record Fiscal Year

August 26, 1997 at 12:00 AM EDT
Management Cites Continuing 'Solid Performance' in Sales and Earnings and Expected Record Fiscal Year

SIOUX FALLS, S.D., Aug. 26 /PRNewswire/ -- Raven Industries, Inc. (Nasdaq: RAVN) announced today that its board of directors has approved a 15 percent increase in the company's quarterly cash dividend to 15 cents per share from 13 cents. President and Chief Executive Officer David A. Christensen said the "solid performance" of the second quarter and the results anticipated for the second half of the current fiscal year ending January 31, 1998, support a higher dividend payout. Recently management had announced expectations of record sales and earnings for the current year.

The company also reported that the 15 cents quarterly cash dividend is payable October 15, 1997, to shareholders of record as of September 25, 1997.

Raven Industries is a diversified manufacturer that supplies plastics, electronics and special-apparel products to various markets.