Patrick Industries has completed the acquisition of Geremarie, the designer and manufacturer of high-precision aluminum components for industrial enterprises. The transaction was financed by borrowed funds.
Patrick Industries' net profit under GAAP for 9 months of 2020 was $59.237 million, down 14.9% from $69.582 million the previous year. Revenue decreased 4.1% to $1.714 billion, down from $1.788 billion a year earlier.
The Board of Directors of PATRICK INDUSTRIES announced a quarterly dividend of $0.25 per share. The last day to buy securities to receive dividends is May 28, 2020. The annual dividend yield may reach 2.32%.
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