AMERICAN WOODMARK CORPORATION ANNOUNCES FIRST CASH DIVIDEND.WINCHESTER, Va.--(BUSINESS WIRE)--Aug. 22, 1996--American Woodmark Corporation (Nasdaq:AMWD), a leading national manufacturer of cabinetry cab·i·net·ry n. Cabinetwork: finely detailed cabinetry. Noun 1. cabinetry - the craft of making furniture (especially furniture of high quality) cabinetwork , announced a $0.02 per share quarterly cash dividend on its common stock. The announcement came at the Company's Annual Shareholders' meeting shareholders' meeting n. a meeting, usually annual, of all shareholders of a corporation (although in large corporations only a small percentage attend) to elect the Board of Directors and hear reports on the company's business situation. . William F. Brandt, Jr., chairman, stated that one of the reasons for declaring a cash dividend is to open additional investment markets for the Company's common stock. Brandt said, "A cash dividend will allow institutional investors who can only invest in companies that pay a cash dividend the opportunity to invest in American Woodmark American Woodmark is a fully integrated, stock and semi-custom, just-in-time cabinet manufacturer, headquartered in Winchester, Virginia. The company operates 15 manufacturing facilities, in Arizona, Georgia, Indiana, Kentucky, Maryland, Minnesota, Oklahoma, Tennessee, Virginia, ." The $0.02 cash dividend will be paid on September 27, 1996, to shareholders of record on September 13, 1996. The cash dividend follows two quarters where the Company has announced record earnings and increased financial strength. Long-term debt Long-Term Debt Loans and financial obligations lasting over one year. Notes: For example debts obligations such as bonds and notes which have maturities greater than one year would be considered long-term debt. to total capital is at the lowest level in the history of the Company. American Woodmark Corporation manufactures and distributes kitchen cabinets and vanities, serving both the remodeling remodeling /re·mod·el·ing/ (re-mod´el-ing) reorganization or renovation of an old structure. bone remodeling and new housing construction markets. Its products are sold on a national basis through a network of independent distributors and directly to home centers, major builders and home manufacturers. The Company presently operates seven manufacturing facilities and four service centers across the country. CONTACT: American Woodmark Corporation, Winchester Glenn Eanes, 540/665-9100 |
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