false 0000764401 0000764401 2024-11-12 2024-11-12
 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549 
 
 
FORM 8-K
 
 
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
 
Date of report (Date of earliest event reported): November 12, 2024
 
 
Insteel Industries, Inc.
(Exact Name of Registrant as Specified in Charter) 
 
 
North Carolina
1-9929
56-0674867
(State or Other Jurisdiction
of Incorporation)
(Commission
File Number)
(I.R.S. Employer
Identification No.)
 
1373 Boggs Drive
Mount Airy, North Carolina 27030
(Address of Principal Executive Offices, and Zip Code)
 
(336) 786-2141
Registrant’s Telephone Number, Including Area Code
 
(Former Name or Former Address, if Changed Since Last Report) 
 
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 (see General Instruction A.2. below):
 
 
☐
Written communication 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(s) Name of each exchange on which registered
Common Stock (No Par Value) IIIN The New York Stock Exchange
 
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §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. ☐
 
 
 
 
Item 8.01. Other Events
 
On November 12, 2024, Insteel Industries, Inc. issued a news release announcing that its Board of Directors has declared both its regular quarterly cash dividend of $0.03 per share of common stock, and a one-time special cash dividend of $1.00 per share of common stock, both payable on December 13, 2024, to shareholders of record as of November 29, 2024. A copy of this release is included as Exhibit 99.1 to this Current Report on Form 8-K and incorporated herein by reference.
 
Item 9.01. Financial Statements and Exhibits
 
Exhibit 99.1
 
Exhibit 104
Cover Page Interactive Data File (embedded within Inline XBRL document).
 
 
 
 
SIGNATURES
 
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.
 
 
 
INSTEEL INDUSTRIES, INC.
 
By: /s/ Elizabeth C. Southern  
Name: Elizabeth C. Southern  
Title: Vice President Administration, Secretary and Chief Legal Officer
Date: November 12, 2024  
 
 

Exhibit 99.1

logo01.jpg

 

NEWS RELEASE

 

FOR IMMEDIATE RELEASE Contact: Scot Jafroodi
    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 12, 2024 – 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 $1.00 per share of common stock payable on December 13, 2024, to shareholders of record as of November 29, 2024.

 

“We are pleased to announce that we are once again declaring a special dividend. We continue to believe this approach is an effective method to distribute value to our shareholders while allowing us to maintain ample financial flexibility. Looking ahead to 2025, we remain debt-free and are well-positioned to pursue growth opportunities as they arise, while continuing our share buyback program 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 twelve 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 September 28, 2024.

 

IIIN - D

 

###

 

 

1373 BOGGS DRIVE, MOUNT AIRY, NC 27030/PHONE: (336) 786-2141/FAX: (336) 786-2144

WWW.INSTEEL.COM

 
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Document And Entity Information
Nov. 12, 2024
Document Information [Line Items]  
Entity, Registrant Name Insteel Industries, Inc.
Document, Type 8-K
Document, Period End Date Nov. 12, 2024
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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