SIOUX FALLS, S.D., Aug. 19 /PRNewswire-FirstCall/ -- The Board of
Directors of Raven Industries, Inc. (Nasdaq: RAVN) boosted the company's
regular quarterly cash dividend 12.5 percent to nine cents per share,
effective October 15, 2003, to shareholders of record September 25, 2003.
This is the second increase in the company's dividend payout in the past six
months.
The company said that the change in federal tax law regarding cash
dividends puts dividend payments on a more level playing field with other
shareholder returns. Additionally, Raven's ongoing strong performance and its
confidence in the future underscore this mid-year increase in its
shareholders' payout, top management said. "Our company continues to generate
the strong earnings and cash flow needed to support consistent dividend
increases and this new increase moves us closer to our targeted cash dividend
payout level," noted CEO and President Ronald M. Moquist.
Raven is an industrial manufacturer that provides electronics
manufacturing services, reinforced plastic sheeting and flow control devices
to various markets. The company will release its second-quarter results on
August 21, 2003.
On the Internet, information is available at FRB's website,
http://www.frbwebershandwick.com , or the company's website, http://www.ravenind.com .
SOURCE Raven Industries, Inc.
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Related links:
http://www.ravenind.com
CONTACT:
Tom Iacarella, VP & CFO of Raven Industries,
Inc., +1-605-336-2750, or General Inquiries, Dennis Waite,
+1-708-246-6265, Analyst Inquiries, Leslie Loyet,
+1-312-640-6672, or Media Inquiries, Cindy Martin,
+1-312-640-6741, all of FRB Weber Shandwick
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