GRAND RAPIDS, Mich., Apr 15, 2010 (BUSINESS WIRE) --Universal Forest Products, Inc. (Nasdaq: UFPI) today announced that its
Board of Directors approved a semiannual dividend payment of $0.20 per
share, marking the 28th consecutive year the Company has paid
a dividend. The dividend was approved at the board's April 14, 2010,
meeting and is payable on June 15, 2010, to shareholders of record on
June 1, 2010.
"Last October, when we approved the largest increase to our semiannual
dividend in our history, we vowed to maintain payments at the increased
level if we maintained our strong balance sheet, profitability and cash
flow," said Chairman William G. Currie. "I'm proud to say that we
continue to maintain a solid financial position, and, with a dividend,
we will reward those who have placed their trust and investment in
Universal."
"We're strong, we have faith in our strategies and our people, and we
have a great outlook on our future," Currie added. "We're proud to be in
a position to offer a dividend and still have the resources we need to
sustain our growth strategies."
UNIVERSAL FOREST PRODUCTS, INC.
Universal Forest Products, Inc. is a holding company that provides
capital, management and administrative resources to subsidiaries that
design, manufacture and market wood and wood-alternative products for
DIY/retail home centers and other retailers, structural lumber and other
products for the manufactured housing industry, engineered wood
components for the site-built construction market, and specialty wood
packaging and components and packing materials for various industries.
Universal's subsidiaries also provide framing services for the
site-built market, and forming products for concrete construction. The
Company's consumer products subsidiary offers a large portfolio of
outdoor living products, including wood composite decking, decorative
balusters, post caps and plastic lattice. Its lawn and garden group
offers an array of products, such as trellises and arches, to retailers
nationwide. Founded in 1955, Universal Forest Products is headquartered
in Grand Rapids, Mich., with operations throughout North America. For
more about Universal Forest Products, go to www.ufpi.com.
This press release contains forward-looking statements within the
meaning of Section 21E of the Securities Exchange Act, as amended, that
are based on management's beliefs, assumptions, current expectations,
estimates and projections about the markets we serve, the economy and
the company itself. Words like "anticipates," "believes," "confident,"
"estimates," "expects," "forecasts," "likely," "plans," "projects,"
"should," variations of such words, and similar expressions identify
such forward-looking statements. These statements do not guarantee
future performance and involve certain risks, uncertainties and
assumptions that are difficult to predict with regard to timing, extent,
likelihood and degree of occurrence.The Company does not
undertake to update forward-looking statements to reflect facts,
circumstances, assumptions or events that occur after the date the
forward-looking statements are made.Actual results could differ
materially from those included in such forward-looking statements.Investors
are cautioned that all forward-looking statements involve risks and
uncertainty.Among the factors that could cause actual results to
differ materially from forward-looking statements are the following:
fluctuations in the price of lumber; adverse or unusual weather
conditions; adverse conditions in the markets we serve; government
regulations, particularly involving environmental and safety
regulations; and our ability to make successful business acquisitions.Certain of these risk factors as well as other risk factors and
additional information are included in the Company's reports on Form
10-K and 10-Q on file with the Securities and Exchange Commission.
SOURCE: Universal Forest Products
Universal Forest Products, Inc.
Lynn Afendoulis
Director, Corporate Communications
(616) 365-1502
