Patrick Industries, Inc. Announces Increase to Regular Quarterly Cash Dividend and Replenished Share Repurchase Authorization

(NASDAQ:PATK) Patrick Industries, Inc. announced that its Board of Directors approved an increase in the quarterly cash dividend on its common stock to $0.52 per share from $0.47 per share. The dividend will be payable on December 7, 2026, to shareholders of record at the close of business on November 23, 2026. The Board also authorized a replenishment of the Company's common stock repurchase program to $200.0 million, which includes the $61.9 million remaining under the previous authorization. Andy Nemeth, Chief Executive Officer of Patrick, stated that the increase in the quarterly dividend and renewed share repurchase authorization are based on the company's disciplined capital allocation strategy, cash generation, and solid balance sheet. Since initiating its quarterly dividend in 2019, Patrick has raised it each year and has been active with share repurchases, deploying $106.1 million in the first nine months of 2026. The company noted that its cash generation enables investment in organic initiatives and strategic M&A, which are expected to remain a priority. Patrick entered into an all-stock merger agreement with LCI Industries on June 30, 2026. Under the operating covenants of this agreement, Patrick is currently restricted from repurchasing shares of its common stock and expects these restrictions to remain while the agreement is in effect. Patrick employs approximately 10,000 team members throughout the United States.

Patrick Industries, Inc. Reaffirms Merger Agreement with LCI Industries

(NASDAQ:PATK) Patrick Industries, Inc. reaffirmed its agreement to combine with LCI Industries (NYSE:LCII) in an all-stock merger. The merger aims to create a premier component solutions provider for the outdoor enthusiast, housing, and transportation markets. Patrick disclosed that LCI had received an unsolicited nonbinding proposal from Monomoy Capital Partners to acquire LCI. LCI's Board of Directors is evaluating the Monomoy proposal in accordance with its fiduciary duties. Despite the new proposal, LCI's Board of Directors has not changed its recommendation in support of the merger with Patrick. Patrick stated it will monitor the situation as it continues to execute its strategy focused on an independent and diversified brand model in the outdoor enthusiast and housing markets. Patrick Industries serves original equipment manufacturers and aftermarket customers in the RV, Marine, Powersports, and Housing markets. Patrick has been in operation since 1959. The company brings together design, manufacturing, distribution, and transportation in its solutions model. Patrick is home to more than 85 leading brands. The company is headquartered in Elkhart, Indiana. Patrick employs approximately 10,000 skilled team members throughout the United States.

Patrick Industries, Inc. Declares Quarterly Cash Dividend

Patrick Industries, Inc. (NASDAQ: PATK) announced that its Board of Directors declared a quarterly cash dividend of $0.47 per share on its common stock on May 14, 2026. The dividend will be payable on June 8, 2026 to shareholders of record at the close of business on May 26, 2026. Patrick Industries is a component solutions provider serving the RV, Marine, Powersports, and Housing markets, employing more than 10,000 team members throughout the United States. The company is home to more than 85 leading brands and is headquartered in Elkhart, IN. This announcement is significant for investors as it provides details on the upcoming dividend payment and reinforces the company's ongoing commitment to shareholder returns.

Patrick Industries and LCI Industries Terminate Discussions Regarding Potential Merger of Equals

Patrick Industries, Inc. (NASDAQ: PATK) and LCI Industries (NYSE: LCII) announced the termination of discussions regarding a potential business combination. The companies were unable to reach agreement on certain key terms despite consensus on leadership and other aspects of a potential merger of equals. Patrick Industries emphasized its commitment to its strategic plan, independent brand-fronted foundation, and customer partnerships. The company highlighted its strong balance sheet, cash flows, and disciplined capital allocation strategy. Patrick Industries remains focused on organic growth, innovation, and its proven M&A strategy to drive long-term shareholder value.

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