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American Woodmark suspends dividend


American Woodmark suspends dividend

POSTED BY administrator on Aug 29 under kitchen

American Woodmark suspends dividend
News from Forbes:
Associated Press, 08.29.11, 06:02 PM EDT

WINCHESTER, Va. — American Woodmark Corp., which makes kitchen and bathroom cabinets, said Monday that it will not pay its regular dividend for this quarter because of its uncertainty about the economy.

“Recent events both home and abroad have significantly increased the level of economic uncertainty for the foreseeable future,” said CEO Kent Guichard.

The company cited uncertainty in the U.S. in new home construction and big-ticket remodeling.

Not paying a dividend will enhance American Woodwork’s financial flexibility, Guichard said.

American Woodwork, in Winchester, Va., paid its most recent regular quarterly dividend of 9 cents on June 27 to shareholders of record as of June 13.

Shares fell 21 cents to $ 15.96 during aftermarket trading, after ended the regular trading day up…………… continues on Forbes

… Read the full article

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