Keith S. Walters, Chairman, President and Chief Executive Officer of Ennis, Inc. (NYSE: EBF), a manufacturer of business forms, apparel and other business products headquartered in Midlothian, Texas, announced today that the Board of Directors has increased the quarterly dividend to $0.175 per share from $0.155 per share, or an increase of 13%, and has set the record date for the Annual Shareholder Meeting.
"While the Board realizes the Company's apparel segment is dealing with higher material costs, as are other apparel companies, we feel good about where the Company is and its future prospects and as such elected to increase the Company's dividend by $.02 per share, increasing the Company's dividend yield to 4.5% (based on 3/29/12 closing price). This is not a special dividend, but should be reflective of future quarterly amounts subject to the Board's normal review process," noted Mr. Walters. The dividend is payable May 1, 2012 to shareholders of record on April 16, 2012. The Annual Meeting of Shareholders will be held on June 28, 2012, with a record date of May 1, 2012.
