EVI Industries Inc., headquartered in Miami, has announced that its Board of Directors approved a special cash dividend of 31 cents per share on EVI’s common stock, a 10 percent increase over the amount of the special cash dividend paid by EVI last October. The dividend is payable on October 7, 2024, to stockholders of record at the close of business on September 26, 2024.
“Our strong cash flows during fiscal 2024 and growth prospects allow us the opportunity to reward those who are invested in our long-term strategy,” stated EVI Chair and CEO Henry M. Nahmad. “It reflects the confidence we have in our business outlook, which is supported by our strong balance sheet.”
The company recently reported its operating results for the three- and 12-month periods ended June 30, 2024, including record gross profit, record gross margin, and record operating cash flows for fiscal 2024, and record gross margin and record operating cash flows for the three-month period ended June 30, 2024.
Since 2016, EVI has established itself as a leader in the North American commercial laundry distribution and service industry by executing its long-term growth strategy, which has resulted in a compounded annual growth rate in revenue, net income, and adjusted EBITDA of 33 percent, 16 percent, and 30 percent, respectively, according to the company.
“We are a long-term focused company with ambitious growth plans,” Nahmad added. “Our confidence is derived from early successes combined with financial strength and wherewithal, our reputation as a knowledgeable and high-quality buyer and successful builder of businesses, the expected future impact of promising technologies, and a heavily invested leadership team to guide the company into the future.”
