Patrick Industries, Inc. Elevates Dividend and Boosts Share Repurchase Capacity in 2026

ELKHART, Ind. - Patrick Industries, Inc. (NASDAQ: PATK), a major player in the component solutions sector, has announced an uptick in its quarterly cash dividend during a recent Board of Directors meeting. As of November 11, 2026, the dividend has increased from $0.47 to $0.52 per share, a move that echoes the company's sustained growth and financial health.

Shareholders can expect the new rate to be effective with payments set for December 7, 2026, to those on record by the end of business on November 23, 2026. This decision underlines Patrick’s commitment to enhancing shareholder value and providing returns amid a promising market environment.

In conjunction with the dividend increase, the company has authorized a replenishment of its stock repurchase program to the tune of $200 million. This includes a remaining $61.9 million from prior authorizations, allowing for significant buybacks over the upcoming two-year period.

Chief Executive Officer Andy Nemeth expressed confidence in the company's ongoing financial strategy, emphasizing the importance of disciplined capital allocation. He remarked, “Our quarterly dividend has seen an increase each year since inception in 2019, complemented by an active share repurchase strategy where we’ve already deployed $106.1 million within the first three quarters of 2026.”

The announcement comes on the heels of a merger agreement with LCI Industries disclosed on June 30, 2026. Currently, under the terms of this agreement, the company is restricted from repurchasing additional shares until these conditions are lifted or modified, marking a noteworthy phase in Patrick’s strategic moves.

Patrick Industries, established in 1959, provides essential components to various industries, including recreation vehicles, marine, and housing sectors. It prides itself on a holistic approach, merging design, manufacturing, and transportation to fulfill a myriad of customer requirements.

With a workforce of approximately 10,000 employees across the United States, Patrick operates under the auspices of over 85 distinguished brands, all of which are consistently striving for excellence in customer service and innovation. As the company navigates the complexities of the market and its evolving landscape, the rigorous focus on shareholder returns through dividends and repurchases stands out as a vital aspect of its long-term strategy.

In summary, the decisions made by the Board reflect a balanced approach to growth while ensuring that shareholders remain engaged and rewarded. Forward-looking, Patrick carries a strong promise of continuing its legacy and expanding its impact across its key markets, fostering both innovation and customer-centric solutions for years to come.

For further inquiry about Patrick Industries and its expansive catalog of products, interested parties are encouraged to visit their official website.

Disclaimer: This announcement contains forward-looking statements reflecting expectations that may not guarantee results as anticipated. Investors should consider potential risks and industry fluctuations when interpreting these statements. Future dividend payments are contingent upon Board approval.

Contact Information
Steve O'Hara
Vice President of Investor Relations
Email
574.294.7511