Synalloy (SYNL) Raises Annual Dividend 15.4% to $0.30; 1.9% Yield

Synalloy (NASDAQ: SYNL) declared an annual dividend of $0.30 per share, or $0.3 annualized. This is a 15.4% increase from the prior dividend of $0.26.

The dividend will be payable on December 9, 2014, to stockholders of record on November 24, 2014, with an ex-dividend date of November 20, 2014.

The annual yield on the dividend is 1.9 percent.

This dividend payment marks the eighth consecutive year Synalloy has paid an annual dividend bringing the total amount returned to shareholders since 2007 to $14.3 million. The Board is pleased with the Company's continued growth in adjusted EBITDA and remains excited about Synalloy's prospects for 2015. In determining the amount of this year's annual dividend, the Board considered the need to maintain a strong balance sheet as the Company pursues a number of growth initiatives going forward. The Board will continue to review at or near the end of each fiscal year the Company's financial performance, cash and debt levels, as well as the capital needed to support future growth to determine the amount of cash dividend, if any that is appropriate.

For a dividend history and other dividend-related data on Synalloy (SYNL) click here.

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