Steelcase As of September 23, 2022 ticker dps (an.) 2022 hike 2021 hike 2020 hike
SCS $0.40 -31.0% 45.0% -31.0%
Business yield Hike yrs 5 yr CAGR freq. paid since
Furniture Systems 5.4% N/A N/A Quarter N/A
Steelcase also announced a 31% dividend cut in 2020 | image source: company investor presentation
Steelcase also announced a 31% dividend cut in 2020 | image source: company investor presentation

On September 21, 2022, Steelcase (SCS) announced a big dividend cut of 31% to $0.10 per share quarterly. This comes after a 45 percent dividend hike to $0.145 per share in 2021. Steelcase also cut its dividend in 2020.

The Board of Directors has declared a quarterly cash dividend of $0.10 per share, to be paid on or before October 17, 2022, to shareholders of record as of October 5, 2022. A new annual dividend rate of 40 cents per share will yield 5.5% at a stock price of $7.28.

Steelcase (SCS) Dividend history & statistics
Company name Steelcase Inc
Ticker symbol SCS
ISIN-code US8581552036
company website https://www.steelcase.com/
Sector Industrials
Business Furniture Systems
Dividend paid since 1998
Track record (years increased) 0
Payment Frequency Quarterly dividend
Dividend growth: 5 year average -4.7%
Next dividend per share $0.10
Annual dividend per share $0,40
Dividend yield* 5.5%
Stock price* $7.39
YTD Total Return* -27.2%
Next ex-dividend date October 4, 2022
Next payment date October 17, 2022
Market cap (in $B)* 0.83
Total dividend (in $B) 0.05
© www.dividendhike.com *As of September 23, 2022

"Based on the recent order and return-to-office trends, we adjusted our dividend this quarter to strengthen our liquidity profile and support a higher allocation of capital to reinvestment in the business and pursuit of our longer-term strategy," said Dave Sylvester.

Steelcase Inc. provides an integrated portfolio of furniture, architectural products and technology solutions. The company's furniture portfolio includes panel, fence and beam-based furniture systems, storage, fixed and height-adjustable desks, benches and tables and complementary products such as worktools. Seating products include task chairs and the company's technology solutions support group collaboration by integrating furniture and technology. The interior architectural products include full and partial height walls and architectural pods. The company’s brands include Steelcase, Coalesse, Designtex, PolyVision, Smith System, Orangebox, AMQ and Turnstone. Steelcase was founded in 1912 and has paid a dividend every year since it became a public company in 1998.

Dividend Calendar

Look at the complete list of upcoming events
Ex-date Ticker Yield YTD hike
Sep 30 PKG 4.4% 0.0%
Sep 30 O 4.8% 0.6%
Sep 30 STT 4.0% 10.5%
Sep 30 RJF 1.3% 0.0%
Sep 30 CAH 3.0% 1.0%
Sep 30 VTR 4.1% 0.0%
Sep 30 APD 2.8% 8.0%
Sep 30 RSG 1.3% 0.0%
Oct 03 A 0.7% 0.0%
Oct 03 DG 0.9% 31.0%