GONZALES, La., Nov. 9, 2011 /PRNewswire/ -- Crown Crafts, Inc. (the "Company") (NASDAQ-CM: CRWS) today announced that its Board of Directors has declared a quarterly cash dividend of $0.04 per share, which is an increase of $0.01 per share over the preceding quarterly dividend and is the second time in calendar 2011 that the Board has increased the Company's quarterly dividend. The dividend will be paid on January 6, 2012 to the Company's Series A common stockholders of record at the close of business on December 16, 2011.
"Today's announcement marks our eighth consecutive quarterly dividend payment since 2010 and represents an annualized yield of 4.68% based on the November 8, 2011 closing price of $3.42 per share," said E. Randall Chestnut, the Chairman, President and Chief Executive Officer of the Company. "We are pleased to be able to reward our investors with steadily increasing dividend revenue, which reflects our Board's value-creation commitment to our shareholders."
Schedule for Earnings Release and Conference Call
The Company also announced that it intends to release the results of its operations for the second quarter of fiscal year 2012 before the market opens on November 16, 2011. E. Randall Chestnut and Olivia W. Elliott, Chief Financial Officer, will host a teleconference at 1:00 p.m. Central Standard Time on that day to discuss the Company's results and answer appropriate questions.
Interested individuals may join the teleconference by dialing (877) 317-6789. Please refer to conference number 10006432. The teleconference can also be accessed in listen-only mode by visiting the Company's website at www.crowncrafts.com. The financial information to be discussed during the teleconference may be found on the investor relations portion of the Company's website after earnings are released.
A telephone replay of the teleconference will be available one hour after the end of the call through 8:00 a.m. Central Standard Time on November 24, 2011. To access the replay, dial (877) 344-7529 in the U.S. or (412) 317-0088 from international locations and refer to conference number 10006432.
About Crown Crafts, Inc.
Crown Crafts, Inc. designs, markets and distributes infant, toddler and juvenile consumer products, including crib and toddler bedding and blankets; nursery and bath accessories; reusable and disposable bibs and floor mats; burp cloths; room décor; and disposable placemats, toilet seat covers and changing mats. The Company's operating subsidiaries include Crown Crafts Infant Products, Inc. in California and Hamco, Inc. in Louisiana. Crown Crafts is among America's largest producer of infant bedding, bibs and bath items. The Company's products include licensed and branded collections as well as exclusive private label programs for certain of its customers. The latest news about Crown Crafts can be found at www.crowncrafts.com.
Investor Relations Department
Halliburton Investor Relations
SOURCE Crown Crafts, Inc.