Exhibit 99.1
NEWS RELEASE
FOR IMMEDIATE RELEASE | Contact: | Michael C. Gazmarian |
| | | Vice President, Chief Financial Officer and Treasurer |
| | | Insteel Industries, Inc. |
| | | (336) 786-2141, Ext. 3020 |
INSTEEL INDUSTRIES DECLARES QUARTERLY CASH DIVIDEND
MOUNT AIRY, N.C., November 14, 2018 – Insteel Industries, Inc. (NasdaqGS: IIIN) today announced that its board of directors declared a quarterly cash dividend of $0.03 per share on the Company’s common stock payable on January 4, 2019 to shareholders of record as of December 14, 2018.
“Our board of directors evaluates a broad range of factors when considering the declaration and payment of regular and special dividends, including potential funding requirements for growth opportunities and capital outlays in addition to our financial condition and business outlook,” commented H.O. Woltz III, Insteel’s president and CEO.
About Insteel
Insteel is the nation’s largest manufacturer of steel wire reinforcing products for concrete construction applications. Insteel manufactures and markets prestressed concrete strand and welded wire reinforcement, including engineered structural mesh, concrete pipe reinforcement and standard welded wire reinforcement. Insteel’s products are sold primarily to manufacturers of concrete products that are used in nonresidential construction. Headquartered in Mount Airy, North Carolina, Insteel operates ten manufacturing facilities located in the United States.
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