GlobeNewswire Inc | May 13, 2021 04:15PM EDT

May 13, 2021

GONZALES, La., May 13, 2021 (GLOBE NEWSWIRE) -- Crown Crafts, Inc. (NASDAQ-CM: CRWS) (the Company) announced today that its Board of Directors has declared a quarterly cash dividend on its Series A common stock of $0.08 per share to be paid on July 2, 2021 to stockholders of record at the close of business on June 11, 2021.

Our quarterly dividend is the result of the ongoing commitment of our Board and management team to deliver solid and consistent returns to our shareholders, said E. Randall Chestnut, Chairman and Chief Executive Officer. Crown Crafts remains in strong financial position with a focus on generating positive cash flow and long-term value.

About Crown Crafts, Inc.Crown Crafts, Inc. designs, markets and distributes infant, toddler and juvenile consumer products. Founded in 1957, Crown Crafts is one of Americas largest producers of infant bedding, toddler bedding, bibs and developmental toys. The Company operates through its two wholly owned subsidiaries, NoJo Baby & Kids, Inc., and Sassy Baby, Inc., which market a variety of infant, toddler and juvenile products under Company-owned trademarks, as well as licensed collections and exclusive private label programs. Sales are made directly to retailers such as mass merchants, large chain stores and juvenile specialty stores. For more information, visit the Companys website at www.crowncrafts.com.

The foregoing contains forward-looking statements within the meaning of the Securities Act of 1933, the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995. Such statements are based upon managements current expectations, projections, estimates and assumptions. Words such as expects, believes, anticipates and variations of such words and similar expressions identify such forward-looking statements. Forward-looking statements involve known and unknown risks and uncertainties that may cause future results to differ materially from those suggested by the forward-looking statements. These risks include, among others, the impact of the COVID-19 pandemic on the Companys business operations, general economic conditions, including changes in interest rates, in the overall level of consumer spending and in the price of oil, cotton and other raw materials used in the Companys products, changing competition, changes in the retail environment, the Companys ability to successfully integrate newly acquired businesses, the level and pricing of future orders from the Companys customers, the extent to which the Companys business is concentrated in a small number of customers, the Companys dependence upon third-party suppliers, including some located in foreign countries, customer acceptance of both new designs and newly-introduced product lines, actions of competitors that may impact the Companys business, disruptions to transportation systems or shipping lanes used by the Company or its suppliers, and the Companys dependence upon licenses from third parties. Also, in regard to the Companys dividend announced today and its history of paying dividends, the declaration of each dividend is at the discretion of the Companys Board of Directors and the Company expressly disclaims any assurances as to the frequency and amount of any future dividends.Reference is also made to the Companys periodic filings with the Securities and Exchange Commission for additional factors that may impact the Companys results of operations and financial condition. The Company does not undertake to update the forward-looking statements contained herein to conform to actual results or changes in our expectations, whether as a result of new information, future events or otherwise.

Craig J. DemarestContact: Vice President and Chief Financial Officer (225) 647-9118 cdemarest@crowncrafts.com