LSI Industries cuts dividend by 83%

LSI Industries will cut its quarterly dividend from $0.06 to $0.01 per share.

The Board of Directors declared a regular quarterly cash dividend of $0.01 per share payable November 28, 2014 to shareholders of record as of November 20, 2014.

The new indicated annual cash dividend rate for fiscal 2015 is $0.04 per share. Additionally, the Board of Directors has adopted a new policy regarding dividends which indicates that dividends will be determined by the Board of Directors in its discretion based upon its evaluation of earnings, cash flow requirements, financial condition, debt levels, stock repurchases, future business developments and opportunities, and other factors deemed relevant.

The new indicated dividend yield for LSI Industries (ticker LYTS) is 0.5% based on Monday's closing price of $7.44.

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