Third graph, first sentence of release should read: The stock split record date is February 24, 2011 and the payable date is March 10, 2011. The split will increase RFI's outstanding common shares to approximately 5,953,018. (sted The stock split will be effective February 24, 2011, and will increase RFI's outstanding common shares to approximately 5,953,018.)
The corrected release reads:
RF INDUSTRIES DECLARES 2-FOR-1 STOCK SPLIT; RAISES QUARTERLY CASH DIVIDEND TO $0.02 PER POST-SPLIT COMMON SHARE
RF Industries, Ltd., (NASDAQ:RFIL)
today announced that its Board of Directors has declared a 2-for-1 common stock split and a 33% increase in the quarterly cash dividend.
"We achieved record sales in the recent fourth quarter and will also report record first quarter sales for the period ended January 31, 2011. Our strong cash position and business environment provide an excellent opportunity for the Company to reward shareholders with a higher dividend and improved trading liquidity in RFI's common stock through the declaration of a 2-for-1 stock split," said Howard Hill, president and Chief Executive Officer of RF Industries.
The stock split record date is February 24, 2011 and the payable date is March 10, 2011. The split will increase RFI's outstanding common shares to approximately 5,953,018. The increase in RFI's quarterly cash dividend to $0.02 per post-split share will be payable on April 15, 2011, to shareholders of record on March 31, 2011.
About RF Industries
RF Industries conducts operations through six related divisions. The
and Cable Assembly segment designs and distributes radio frequency (RF) coaxial connectors and cable assemblies used for Wi-Fi, PCS, radio, test instruments, computer networks and antenna devices. This business segment includes
Electronics, which provides custom microwave and RF Connector solutions to aerospace, OEM and Government agencies, and
, formerly known as Worswick, which provides coaxial connectors and cable assemblies primarily to retail and local multi-media and communications systems customers.
, which constitutes the Medical Cabling and Interconnector segment, designs, manufactures and distributes specialized electrical cabling and interconnect products to the medical monitoring market. The RF Wireless segment includes
, which designs and markets wireless digital data transmission products for industrial monitoring, wide area networks, GPS tracking and locations systems, and
, an OEM provider of end-to-end mobile wireless network solutions for public safety, emergency medical, transportation and industrial customers.
Safe Harbor Statements under the Private Securities Litigation Reform Act of 1995.
The statements contained in this release which are not historical facts may be deemed to contain forward-looking statements with respect to future events, the occurrence of which involve risks and uncertainties, including, without limitation, increased competition, and other uncertainties detailed in the Company's Securities and Exchange Commission filings.
All forward-looking statements are based upon information available to the Company on the date they are published and the Company undertakes no obligation to publicly update or revise any forward-looking statements to reflect events or new information after the date of this release.