UFPI announces increase in semi-annual dividend payment

GRAND RAPIDS, Mich., Oct. 19, 2016 (GLOBE NEWSWIRE) -- Universal Forest Products, Inc. (Nasdaq:UFPI) today announced a seven percent increase to its semiannual dividend payment, to $0.45 per share, payable on December 15, 2016, to shareholders of record on December 1, 2016. The dividend payment was approved by the UFPI Board of Directors on October 18, 2016. This is the 33rd year the Company has paid a dividend.

“There aren’t many things that are more rewarding than sharing our success with those who make it possible, including the shareholders who place their trust in us,” said Chairman William G. Currie. “Today, the people of Universal are working hard to continue Universal’s success and ensure our shareholders remain pleased with their investment in our company.”

On Tuesday, October 18, 2016, UFPI posted record third-quarter results, including net earnings attributable to controlling interest of $27.8 million, an increase of 8.9 percent over the same period of 2015, on net sales of $826.7 million – also a record for the third quarter and an increase of 8.7 percent over 2015.

Universal Forest Products, Inc. is a holding company that provides capital, management and administrative resources to subsidiaries in three robust markets: retail, construction and industrial. Founded in 1955, the Company is headquartered in Grand Rapids, Mich., with affiliates throughout North America, Europe, Asia and Australia. For more about Universal Forest Products, go to www.ufpi.com.

This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act, as amended, that are based on management’s beliefs, assumptions, current expectations, estimates and projections about the markets we serve, the economy and the Company itself. Words like “anticipates,” “believes,” “confident,” “estimates,” “expects,” “forecasts,” “likely,” “plans,” “projects,” “should,” variations of such words, and similar expressions identify such forward-looking statements. These statements do not guarantee future performance and involve certain risks, uncertainties and assumptions that are difficult to predict with regard to timing, extent, likelihood and degree of occurrence. The Company does not undertake to update forward-looking statements to reflect facts, circumstances, events, or assumptions that occur after the date the forward-looking statements are made. Actual results could differ materially from those included in such forward-looking statements. Investors are cautioned that all forward-looking statements involve risks and uncertainty. Among the factors that could cause actual results to differ materially from forward-looking statements are the following: fluctuations in the price of lumber; adverse or unusual weather conditions; adverse economic conditions in the markets we serve; government regulations, particularly involving environmental and safety regulations; and our ability to make successful business acquisitions. Certain of these risk factors as well as other risk factors and additional information are included in the Company's reports on Form 10-K and 10-Q on file with the Securities and Exchange Commission.

Lynn Afendoulis, Director, Corporate Communications (616) 365-1502

Source:Universal Forest Products, Inc.