Kimball International, Inc. Declares Dividend and Authorizes Stock Repurchase Plan
JASPER, Ind., Feb. 07, 2019 (GLOBE NEWSWIRE) -- Kimball International, Inc. (NASDAQ: KBAL)
The Board of Directors of Kimball International, Inc. held a Board meeting during which they declared a quarterly dividend of eight cents ($0.08) per share for all outstanding shares of common stock payable April 15, 2019, to shareowners of record on March 25, 2019.
The Board of Directors also re-authorized its stock repurchase plan to allow repurchase of up to 2 million shares of common stock, in addition to the shares remaining available for repurchase under the previous stock repurchase plan. Stock repurchases are governed by transaction rules, including price limitations, rules for suspension of purchases, limits on daily or monthly purchases, and rules for open market purchases and private purchases from existing shareowners, in accordance with applicable securities laws and regulations, including Rule 10b-18 of the Securities Exchange Act of 1934, as amended. Repurchases may also be made under a Rule 10b5-1 program, which permits preauthorized repurchases at times when a company would not ordinarily be in the market because of company trading policies or possession of material nonpublic information. Repurchased shares may be used to fund future stock dividends, awards under stock-based compensation programs, future growth including acquisitions, and other corporate uses.
About Kimball International, Inc.
Kimball International creates design driven, innovative furnishings sold through our family of brands: Kimball, National, and Kimball Hospitality. Our diverse portfolio offers solutions for the workplace, learning, healing, and hospitality environments. Our values and integrity are demonstrated daily by living our Guiding Principles and creating a culture of caring that establishes us as an employer of choice. “We Build Success” by establishing long-term relationships with customers, employees, suppliers, shareowners and the communities in which we operate. To learn more about Kimball International, Inc. (NASDAQ: KBAL), visit www.kimballinternational.com.
For additional information contact:
Dennis Gerber Dennis.Gerber@KimballInternational.com