(State or other jurisdiction of
incorporation or organization)
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Commission File Number
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(I.R.S. Employer
Identification No.)
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(Address of principal executive offices)
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(Zip Code)
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Title of Each Class | Trading Symbol(s) |
Name of Each Exchange on Which Registered
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 or Rule 12b-2 of the Securities Exchange Act of 1934.
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Emerging growth company
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If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
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Exhibit 99.1
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Exhibit 104
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The cover page from this Current Report on Form 8-K, formatted in Inline XBRL.
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INSTEEL INDUSTRIES, INC. | |
Registrant |
Date: November 16, 2022
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By:
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/s/ James F. Petelle
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James F. Petelle
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Vice President, Secretary and Chief Legal Officer
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Exhibit 99.1
NEWS RELEASE
FOR IMMEDIATE RELEASE | Contact: | Mark A. Carano |
Senior Vice President, | ||
Chief Financial Officer and Treasurer | ||
Insteel Industries Inc. | ||
(336) 786-2141 |
INSTEEL INDUSTRIES DECLARES REGULAR
QUARTERLY AND SPECIAL CASH DIVIDENDS
MOUNT AIRY, N.C., November 15, 2022 – Insteel Industries Inc. (NYSE: IIIN) today announced that its board of directors declared a regular quarterly cash dividend of $0.03 per share and a special cash dividend of $2.00 per share of common stock payable on December 23, 2022, to shareholders of record as of December 9, 2022.
“Following another year of record financial performance, we are pleased to return capital to our shareholders through the payment of a special dividend. This represents our sixth special dividend of at least $1 per share since 2016. As we look ahead to fiscal 2023, Insteel remains well positioned to fully fund its aggressive capital investment program while maintaining ample financial flexibility to pursue acquisition opportunities, and to acquire Company common shares as appropriate,” 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 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.
Forward-Looking Statements and Risk Factors
This news release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Statements that are not descriptions of historical facts are forward-looking statements that are based on our current expectations and may include commentary on our plans, financial position, liquidity, and other business developments. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. Future results could differ materially from those described, and we do not undertake and specifically decline any obligation to correct or update any forward-looking statements. For further information regarding risk factors that could affect our operations and future results, refer to our reports filed with the U.S. Securities and Exchange Commission, including our annual report on Form 10-K for the year ended October 1, 2022.
IIIN - D
###
1373 BOGGS DRIVE, MOUNT AIRY, NC 27030/PHONE: (336) 786-2141/FAX: (336) 786-2144
WWW.INSTEEL.COM
Document And Entity Information |
Nov. 15, 2022 |
---|---|
Document Information [Line Items] | |
Entity, Registrant Name | Insteel Industries, Inc. |
Document, Type | 8-K |
Document, Period End Date | Nov. 15, 2022 |
Entity, Incorporation, State or Country Code | NC |
Entity, File Number | 1-9929 |
Entity, Tax Identification Number | 56-0674867 |
Entity, Address, Address Line One | 1373 Boggs Drive |
Entity, Address, City or Town | Mount Airy |
Entity, Address, State or Province | NC |
Entity, Address, Postal Zip Code | 27030 |
City Area Code | 336 |
Local Phone Number | 786-2141 |
Written Communications | false |
Soliciting Material | false |
Pre-commencement Tender Offer | false |
Pre-commencement Issuer Tender Offer | false |
Title of 12(b) Security | Common Stock |
Trading Symbol | IIIN |
Security Exchange Name | NYSE |
Entity, Emerging Growth Company | false |
Amendment Flag | false |
Entity, Central Index Key | 0000764401 |
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