SIOUX FALLS, S.D., March 25, 2013 (GLOBE NEWSWIRE) -- Raven Industries, Inc. (Nasdaq:RAVN) announced today that its board of directors has approved a 14 percent increase in the company's regular quarterly cash dividend to 12.0 cents per share. The dividend is payable April 25, 2013, to shareholders of record on April 10, 2013. This is Raven's 27th consecutive annual cash dividend increase.
"We are committed to returning cash to our shareholders," said Daniel A. Rykhus, Raven's president and chief executive officer. "We're confident in our ability to invest in our business and reward our shareholders—a hallmark of the Raven model."
On March 12, 2013, Raven reported net income of $1.44 per share, a 4 percent increase over the prior-year's record.
About Raven Industries, Inc.
Since 1956, Raven Industries has designed and manufactured high-quality, high-value technical products. Raven is publicly traded on NASDAQ (RAVN) and has earned an international reputation for innovation, product quality, high performance and unmatched service. With strengths in engineering, manufacturing, and technological innovation, Raven serves the precision agriculture, high performance specialty films, aerospace, and electronic manufacturing services markets. Visit www.RavenInd.com for more information.
CONTACT: At the Company: Tom Iacarella, Vice President and CFO 605-336-2750 Thomas.Iacarella@ravenind.com At Padilla Speer Beardsley: Matt Sullivan 612-455-1700 firstname.lastname@example.orgSource:Raven Industries, Inc.