8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT
Pursuant To Section 13 Or 15(d) of The Securities Exchange Act of 1934
	August 26, 2020
Date of Report (Date of earliest event reported)

RAVEN INDUSTRIES, INC.

(Exact name of registrant as specified in its charter)

SD	001-07982		46-0246171
(State or other jurisdiction of incorporation)	(Commission File Number)		(IRS Employer Identification No.)
205 East 6th Street, P.O. Box 5107	Sioux Falls,	SD	57117-5107
(Address of principal executive offices)			(Zip Code)

(605) 336-2750

(Registrant's telephone number including area code)

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:

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol	Name of each exchange on which registered
Common Stock, $1 par value	RAVN		Nasdaq	Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).    

Emerging growth company ☐

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.   o

Item 8.01. Other events

On August 26, 2020, Raven Industries, Inc. (herein referred to as the “Registrant” or the “Company”) issued a press release to announce that its board of directors has indefinitely suspended the Company's regular dividend. The Company intends to reallocate this capital to supplement and accelerate investments in the Company's Strategic Platforms for Growth; Raven Autonomy™ and Raven Composites™. A copy of the Company's press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.

Item 9.01. Financial Statements and Exhibits

Exhibit No.	Description
99.1	Raven Industries, Inc. press release dated August 26, 2020
104	Cover page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

RAVEN INDUSTRIES, INC.

/s/ Steven E. Brazones

Steven E. Brazones

Vice President and Chief Financial Officer

(Principal Financial and Accounting Officer)

Dated: August 26, 2020

EX-99.1

Exhibit 99.1

RAVEN INDUSTRIES BOARD ANNOUNCES REALLOCATION OF

CAPITAL TO BOLDLY INVEST FOR GROWTH

COMPANY'S QUARTERLY DIVIDEND INDEFINITELY SUSPENDED

Sioux Falls, S.D. (August 26, 2020) — Raven Industries, Inc. (the Company; NASDAQ:RAVN), announced today that its board of directors has indefinitely suspended the Company’s regular quarterly cash dividend on its common stock.

By suspending the dividend, the Company will retain nearly $20 million in capital on an annual basis. The Company intends to reallocate this capital to supplement and accelerate investments in Raven Autonomy™ and Raven Composites™. The opportunity for significant long-term growth from these investments is substantial, and the Company believes this to be the most appropriate use of capital to drive long-term growth in shareholder value

“We are fully committed to boldly investing in the future of our company and now is the time to accelerate investment into Raven Autonomy™ and Raven Composites,” said Dan Rykhus, President and CEO. “This decision speaks greatly to the tremendous opportunities in front of us and is being taken from a position of strength, with utmost confidence in our future.”.

About Raven Industries, Inc.

Raven Industries (NASDAQ: RAVN) is dedicated to providing innovative, high-value products and solutions that solve great challenges throughout the world. Raven is a leader in precision agriculture, high-performance specialty films, and lighter-than-air technologies. Since 1956, Raven has designed, produced, and delivered exceptional solutions, earning the company a reputation for innovation, product quality, high performance, and unmatched service. For more information, visit http://ravenind.com.

Contact Information:

Jared Stearns, Investor Relations Manager

Raven Industries, Inc.

+1(605) 336-2750

irinfo@ravenind.com

###

XML

Document and Entity Information Document	Aug. 26, 2020
Document Information [Line Items]
Entity Central Index Key	0000082166
Amendment Flag	false
Document Type	8-K
Document Period End Date	Aug. 26, 2020
Entity Registrant Name	RAVEN INDUSTRIES, INC.
Entity Incorporation, State or Country Code	SD
Entity File Number	001-07982
Entity Tax Identification Number	46-0246171
Entity Address, Address Line One	205 East 6th Street, P.O. Box 5107
Entity Address, City or Town	Sioux Falls,
Entity Address, Postal Zip Code	57117-5107
Entity Address, State or Province	SD
City Area Code	605
Local Phone Number	336-2750
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Title of 12(b) Security	Common Stock, $1 par value
Trading Symbol	RAVN
Security Exchange Name	NASDAQ
Entity Emerging Growth Company	false