UFPI board approves semiannual dividend of $0.21 per share
Friday, April 18, 2014
– Reviews new structure for the Company's Eastern U.S. operations –
GRAND RAPIDS, Mich., April 18, 2014 – The Universal Forest Products, Inc. (Nasdaq: UFPI) Board of Directors approved a semiannual dividend payment of $0.21 per share at their April 16, 2014 meeting. The dividend is payable on June 15, 2014, to shareholders of record on June 1, 2014.
"There's nothing more rewarding for our board than to share the success of Universal Forest Products with our investors," said Board Chairman William G. Currie. "This marks the 32nd consecutive year that Universal has paid dividends while continuing to maintain the capital needed for growth. We are honored to reward those who are critical to our company and its future."
Also at the meeting, management presented a new structure that creates two geographic operating groups — north and south — within the Company's eastern division. This move is intended to support and promote the Company's growth goals. The size of the two operation subdivisions allows for stronger hands-on leadership by group vice presidents who will report to the chief operating officer. "As our eastern operations grow in size and number, it's imperative to have appropriately sized groups that can be managed and led, and that's what this new structure provides," said CEO Matthew J. Missad.