Knoll Increases Quarterly Cash Dividend from $0.02 to $0.06
Dec 01, 2010, 04:01 ET
EAST GREENVILLE, Pa., Dec. 1, 2010 /PRNewswire/ -- Knoll, Inc. (NYSE: KNL) today announced that the Company's Board of Directors declared a quarterly cash dividend of $0.06 per share payable December 31, 2010 to all shareholders of record on December 15, 2010.
Andrew B. Cogan, CEO, stated, "This increase in our dividend reflects our confidence that industry demand is improving and that our strong free cash flow can support continued deleveraging as well as the increased return of capital to our shareholders."
The declaration and payment of dividends is subject to the discretion of the Board of Directors and depends on various factors, including our net income, restrictions in our credit facility, financial position, cash requirements and other factors deemed relevant by our Board of Directors.
Certain statements in this press release may be forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and are subject to the safe harbor created thereby. Please refer to our public filings for a discussion of certain important factors that relate to forward-looking statements contained in this press release. The words "believe," "expect," "anticipate," "estimate," "guidance," "target," "intend" and similar expressions identify forward-looking statements. Although we believe that the expectations reflected in these forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct.
Since 1938, Knoll has been recognized internationally for creating workplace and residential furnishings that inspire, evolve and endure. Today, our commitment to modern design, our understanding of the workplace and our dedication to sustainable design has yielded a unique portfolio of products that responds and adapts to changing needs. Knoll is aligned with the U.S. Green Building Council and Canadian Green Building Council and can help companies, healthcare organizations and educational institutions achieve Leadership in Energy and Environmental Design (LEED®) workplace certification. Knoll is the founding sponsor of the World Monuments Fund Modernism at Risk program.
SOURCE Knoll, Inc.
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