Drew Industries Incorporated (NYSE: DW) announced that it has named Brian Hall as Chief Financial Officer, effective immediately. Hall has served as the Company’s interim CFO since September 26, 2016, replacing David M. Smith.
“We are pleased that Brian has agreed to become our new CFO,” said Jason Lippert, Chief Executive Officer of Drew Industries.
“His several years of experience in the RV industry, combined with the leadership and technical skills he has demonstrated since joining our company and through this recent transition period, make him the ideal person to lead our financial team for the continued execution of our business strategies. Our executive management team and Board of Directors look forward to continuing to work with Brian in his new role.”
Hall joined Drew Industries in March 2013, and has served as Corporate Controller since June 2013, and interim Chief Financial Officer since September 2016. Prior to joining the Company, he spent more than 16 years in public accounting, most recently as a Senior Manager at Crowe Horwath LLP, where he worked with several public company clients in the RV industry.
Drew Industries also announced a quarterly dividend for shareholders. According to Street Insider, the company declared a quarterly dividend of $0.50 per share, or $2 annualized. This is a 66.7% increase from the prior dividend of $0.30.
The dividend will be payable on December 9, 2016, to stockholders of record on November 28, 2016. The annual yield on the dividend is 2 percent.
Drew Industries supplies component parts to the manufactured housing and recreational vehicle industries across the U.S. and in Europe.
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Submitted by RC Williams to the Daily Business News for MHProNews.