Patrick Industries, Inc. filed an 8-K on November 13, 2026, announcing a quarterly cash dividend increase to $0.52 per share and a $200.0 million stock repurchase program replenishment approved by its Board of Directors on November 11, 2026.

Key Highlights

  • Dividend increase: The Board approved a quarterly cash dividend of $0.52 per share, up from $0.47 per share.
  • Payment date: The dividend is payable on December 7, 2026, to shareholders of record at the close of business on November 23, 2026.
  • Repurchase authorization: The Board authorized a replenishment to $200.0 million for the existing stock repurchase program over the next 24 months, including $61.9 million remaining under the previous authorization.
  • Repurchase restriction: The company is currently restricted from repurchasing shares under the operating covenants of its all-stock merger agreement with LCI Industries, entered into on June 30, 2026.
  • Year-to-date buybacks: According to the filing, the company deployed $106.1 million in share repurchases in the first nine months of 2026.
  • Dividend history: The company disclosed it has raised its quarterly dividend each year since initiating it in 2019.

Patrick Industries Boosts Dividend and Refreshes Repurchase Program Amid Pending LCI Merger

Patrick Industries (NASDAQ:PATK), headquartered in Elkhart, Indiana, disclosed that its Board of Directors approved both a quarterly dividend increase and a replenishment of its share repurchase authorization on November 11, 2026. The quarterly cash dividend was raised to $0.52 per share from $0.47 per share, with the payment scheduled for December 7, 2026, to shareholders of record as of the close of business on November 23, 2026.

The Board also authorized a replenishment of the company's stock repurchase program to $200.0 million over the next 24 months. According to the filing, this total includes the $61.9 million that remained under the previous authorization. However, the filing noted that as of the press release date, the company "is currently restricted from repurchasing shares of its common stock" under the operating covenants of its previously announced all-stock merger agreement with LCI Industries, entered into on June 30, 2026, and "expects such restrictions to remain in place while the Agreement remains in effect."

Chief Executive Officer Andy Nemeth attributed the actions to "disciplined capital allocation strategy, the cash our business generates, and our solid balance sheet," as quoted in the filing. He noted that the company has raised its quarterly dividend each year since initiating it in 2019 and deployed $106.1 million in share repurchases during the first nine months of 2026. The filing also noted that the company intends to continue investment through organic initiatives and strategic mergers and acquisitions. The press release contains forward-looking statements subject to the company's cautionary language and noted that future dividends remain subject to Board approval.

What Was Disclosed

Patrick Industries announced a quarterly dividend increase to $0.52 per share from $0.47, payable December 7, 2026, and a $200.0 million repurchase program replenishment, while disclosing that current merger agreement covenants restrict share repurchases.