Escalade Inc. announced an increase to the quarterly dividend on the company's common stock from 10 cents per share to 11 cents, to be paid to all shareholders of record on June 12, 2015 and disbursed on June 19, 2015.
Escalade said it has executed on its strategy to grow its profitability and operating income as well as maintaining a strong financial position. As such, Escalade's board of directors has adopted a dividend policy under which the Company intends to pay quarterly cash dividends on its common stock.
“We are pleased to increase our quarterly dividend payment based on the Company's strong financial performance,” stated Robert J. Keller, president and chief executive officer of Escalade, Inc. “While we anticipate favorable retail sell-through trends through the remainder of 2015, it is expected that our strategic investments in product line expansion and new category entry may result in lower earnings for the next two quarters in 2015.”
In October 2014, Escalade acquired Cue & Case Sales, Inc., a leader in specialty billiard accessories. In November 2013, it bought DMI Sports, Inc., including indoor games and accessories such as darts, table tennis, game tables, and billiards. Its other brands include STIGA and Ping-Pong table tennis, Accudart and Unicorn darting; Goalrilla, Goaliath and Silverback sports training equipment and basketball goal systems; and Bear Archery, Trophy Ridge and Cajun Bowfishing hunting products.