ELKHART, Ind., Nov. 13, 2026 /PRNewswire/ — Patrick Industries, Inc. (NASDAQ: PATK) (“Patrick” or the “Company”), today announced that on November 11, 2026, its Board of Directors (the “Board”) approved an increase in the amount of its quarterly cash dividend on its common stock to $0.52 per share from $0.47 per share. The dividend is payable on December 7, 2026, to shareholders of record at the close of business on November 23, 2026. Additionally, the Board authorized a replenishment to the amount of the Company’s common stock that may be acquired over the next 24 months under the current stock repurchase program to $200.0 million, including the $61.9 million remaining under the previous authorization.
“The increase in our quarterly dividend and renewed share repurchase authorization are grounded in the performance of Patrick’s business today: our disciplined capital allocation strategy, the cash our business generates, and our solid balance sheet,” said Andy Nemeth, Chief Executive Officer of Patrick. “Since initiating our quarterly dividend in 2019, we have raised it each year and have been active with share repurchases, deploying $106.1 million in the first nine months of 2026. In addition to returning capital to shareholders, our cash generation through the cycle enables investment in our business through organic initiatives and strategic M&A, which we expect to remain a priority. Our commitment to Patrick’s shareholders remains steadfast, and the dividend increase and renewed authorization reflect our continued confidence in the long-term earnings power of the business.”
As previously announced, on June 30, 2026, Patrick entered into an all-stock merger agreement (the “Agreement”) with LCI Industries. In accordance with the operating covenants set forth in the Agreement, the Company is currently restricted from repurchasing shares of its common stock and expects such restrictions to remain in place while the Agreement remains in effect.
About Patrick Industries, Inc.
Patrick (NASDAQ: PATK) is a leading component solutions provider serving original equipment manufacturers and aftermarket customers in the RV, Marine, Powersports and Housing markets. Since 1959, Patrick has empowered manufacturers and outdoor enthusiasts to achieve next-level recreation experiences. Our customer-focused approach brings together design, manufacturing, distribution, and transportation in a full solutions model that defines us as a trusted partner. Patrick is home to more than 85 leading brands, all united by a commitment to quality, customer service, and innovation. Headquartered in Elkhart, IN, Patrick employs approximately 10,000 skilled team members throughout the United States. For more information on Patrick, our brands, and products, please visit www.patrickind.com.
Forward-Looking Statements
This press release contains certain statements related to future results, our intentions, beliefs and expectations or predictions for the future, which are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Any projections of financial performance or statements concerning expectations as to future developments should not be construed in any manner as a guarantee that such results or developments will, in fact, occur. There can be no assurance that any forward-looking statement will be realized or that actual results will not be significantly different from that set forth in such forward-looking statement. Information about certain risks that could affect our business and cause actual results to differ from those expressed or implied in the forward-looking statements is contained in the section entitled “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025, and in the Company’s Forms 10-Q for subsequent quarterly periods, which are filed with the Securities and Exchange Commission (“SEC”) and are available on the SEC’s website at www.sec.gov. In addition, future dividends are subject to Board approval. Each forward-looking statement speaks only as of the date of this press release, and we undertake no obligation to update any forward-looking statement to reflect events or circumstances occurring after the date on which it is made.
Contact:
Steve O’Hara
Vice President of Investor Relations
oharas@patrickind.com
574.294.7511
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SOURCE Patrick Industries, Inc.
