HNI Corporation (NYSE: HNI) announced today its Board of
Directors declared a quarterly dividend of 21.5 cents per share on its
common stock.
This is the 214th consecutive dividend the
Corporation has paid since its first dividend in 1955. The dividend will
be payable on August 29, 2008, to shareholders of record at the close of
business on August 15, 2008.
HNI Corporation is a NYSE traded company providing products and
solutions for the home and workplace environments. HNI Corporation is
the second largest office furniture manufacturer in the world and is
also the nation’s leading manufacturer and
marketer of gas- and wood-burning fireplaces. The Corporation’s
strong brands, including HON®,
Allsteel®, Gunlocke®,
Paoli®, Maxon®,
Lamex®, HBF®,
Heatilator®, Heat &
GloTM, Quadra-Fire®,
and Harman StoveTM have leading positions in
their markets. HNI Corporation is committed to maintaining its
long-standing corporate values of integrity, financial soundness and a
culture of service and responsiveness. HNI Corporation’s
common stock is traded on the New York Stock Exchange under the symbol
HNI. More information can be found on the Corporation’s
website at www.hnicorp.com.
Statements in this release that are not strictly historical, including
statements as to plans, outlook, objectives, and future financial
performance, are "forward-looking" statements within the meaning of
Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934, made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995.
Words such as “anticipate,”
“believe,” “could,”
“confident,” “estimate,”
“expect,” “forecast,”
“hope,” “intend,”
“likely,” “may,”
“plan,” “possible,”
“potential,” “predict,”
“project,” “should,”
“will,” and
variations of such words and similar expressions identify
forward-looking statements. Forward-looking statements involve known and
unknown risks, which may cause the Corporation's actual results in the
future to differ materially from expected results. These risks include,
without limitation: the Corporation's ability to realize financial
benefits from its (a) price increases, (b) cost containment and business
simplification initiatives for the entire Corporation, (c) investments
in strategic acquisitions, new products and brand building, (d)
investments in distribution and rapid continuous improvement, (e)
repurchases of common stock, (f) ability to maintain its effective tax
rate, and (g) consolidation and logistical realignment initiatives;
uncertainty related to the availability of cash to fund future growth;
lower than expected demand for the Corporation's products due to
uncertain political and economic conditions, including, with respect to
the Corporation’s hearth products, the
protracted decline in the housing market; lower industry growth than
expected; major disruptions at our key facilities or in the supply of
any key raw materials, components or finished goods; uncertainty related
to disruptions of business by terrorism, military action, acts of God or
other Force Majeure events; competitive pricing pressure from foreign
and domestic competitors; higher than expected costs and lower than
expected supplies of materials (including steel and petroleum based
materials); higher than expected costs for energy and fuel; changes in
the mix of products sold and of customers purchasing; restrictions
imposed by the terms of the Corporation’s
revolving credit facility, term loan credit agreement, and note purchase
agreement; currency fluctuations and other factors described in the
Corporation's annual and quarterly reports filed with the Securities and
Exchange Commission on Forms 10-K and 10-Q. The Corporation undertakes
no obligation to update, amend, or clarify forward-looking statements,
whether as a result of new information, future events, or otherwise,
except as required by applicable law.
HNI Corporation
Marshall H. Bridges, 563-272-4844
Vice
President and Treasurer
