Insteel Industries, Inc announced that its board of directors declared a special cash dividend of USD 0.25 per share on the Company's common stock payable on December 28th 2012 to shareholders of record as of December 19th 2012
The special dividend is in addition to the Company's regular quarterly cash dividend of USD 0.03 per share that was declared on November 13th 2012 and is also payable on December 28th 2012 to shareholders of record as of December 19th 2012.
Mr HO Woltz III president and CEO of Insteel said that "We believe the special dividend is an effective vehicle for delivering value to our shareholders without compromising our strong balance sheet and financial flexibility. We elected to make this payment before the end of the year in view of the ongoing uncertainty surrounding future dividend tax rates."