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Reported Earlier, Chicago Rivet & Machine Reduces Quarterly Dividend To $0.03 Per Share From $0.10 Per Share, Payable December 20, 2024

Benzinga · 11/19/2024 06:58

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The Company stated that while its financial position remains sound, the Board of Directors determined that the reduction in the dividend was prudent given the Company's recent operating performance. As previously disclosed, the Company has been implementing multiple initiatives to improve performance that have led to year-over-year performance improvement. These include price adjustments with our customers and cost reduction projects, including the previously disclosed consolidation of the Albia, Iowa operation into the Tyrone, Pennsylvania operation.

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