Nobility Homes, Inc. (OTCQX: NOBH) announces a one-time cash dividend of $1.50 per common share for fiscal year 2023. Shareholders of record as of March 25, 2024, receive payment on April 8, 2024.
First Quarter 2024 Sales Performance
Sales for the first quarter ended February 3, 2024, total $14.8 million, down from $17.1 million in the prior year’s first quarter.
Robust Financial Health
The company maintains a solid balance sheet with $27.4 million in cash, cash equivalents, certificates of deposit, and short-term investments. It carries no debt. Working capital stands at $41.6 million, with a current ratio of 5.2:1. Stockholders’ equity reaches $55.0 million, lifting book value per share to $16.85.
Dividend History and Policy
Nobility Homes distributes one-time cash dividends annually for the past six fiscal years. The board holds discretion over declarations, evaluating balance sheet strength, cash flow, operations, and future prospects without a fixed policy.
Established over 56 years ago, Nobility Homes designs and produces affordable manufactured and modular homes. It operates multiple retail centers in Florida for more than 33 years and includes an insurance agency subsidiary, positioning it as Florida’s sole vertically integrated manufactured home company.
