RF Industries' (NASDAQ:RFIL) regular quarterly cash dividend of $0.02 per common share will be payable on April 15, 2011 to shareholders of record on March 31, 2011.
As a result of the Company's recent 2 for 1 common stock share split, paid on March 10, 2011, RFI has approximately 6 million common shares outstanding. Consequently, RFI's new regular quarterly $0.02 per share common dividend represents a 33% increase compared to the Company's prior quarterly dividend of approximately $85,000.
"With second quarter sales gains continuing the strong growth established in the first quarter of fiscal 2011, RFI's Board of Directors will review the Company's dividend yield throughout the coming year, bearing in mind the best interests of our shareholders," said Howard Hill, President and CEO of RF Industries.
At January 31, 2011, RFI reported cash and cash equivalents of $4,607,000 and investments in short and long-term certificates of deposits of $5,624,000 for a total of $10,231,000 in liquid, short-term and long-term capital resources, working capital of $15,621,000, a current ratio of 11 to 1, no long-term debt and stockholders' equity of $17,357,000.About RF Industries RF Industries conducts operations through six related divisions. The RF Connectors 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 Aviel Electronics, which provides custom microwave and RF Connector solutions to aerospace, OEM and Government agencies and Oddcables.com, formerly known as Worswick, which provides coaxial connectors and cable assemblies primarily to retail and local multi-media and communications systems customers. Bioconnect, 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 Neulink, which designs and markets wireless digital data transmission products for industrial monitoring, wide area networks, GPS tracking and locations systems and RadioMobile, an OEM provider of end-to-end mobile wireless network solutions for public safety, emergency medical, transportation and industrial customers. Forward-Looking Statements This press release may contain forward-looking statements. These forward-looking statements are subject to a number of factors that could cause actual results to differ materially. The Company's declaration of a dividend does not commit the board of directors to declare future dividends. Each future dividend will be considered and declared by the board of directors in its discretion. The ability of the board of directors to continue to declare dividends will depend on a number of factors, including the Company's future financial condition and profitability.