Allied Motion Technologies Inc.
(NASDAQ: AMOT) today announced that it will begin a quarterly cash dividend program. The Board of Directors has declared the first quarterly dividend payment of $.02 per share payable on August 29, 2011 to shareholders of record on August 17, 2011.
“The dividend, when annualized, represents approximately 14% of net income achieved for the last twelve months,” commented Dick Warzala, President and CEO of Allied Motion. “The payment of a cash dividend is in keeping with management’s commitment to increase shareholder value and is a demonstration of our confidence in the future of the company. The dividend does not affect our growth strategy as we fully intend to invest in the Company both organically and through acquisitions in the future. In addition, with the payment of a dividend, we would expect to attract new investors into our stock in the future.”
Headquartered in Denver, Colorado, Allied Motion designs, manufactures and sells motion control products into applications that serve many industry sectors. Allied Motion is a leading supplier of precision and specialty motion control components and systems to a broad spectrum of customers throughout the world.
The statements in this press release that relate to future plans, events or performance are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate, or imply future results, performance, or achievements, and may contain the word “believe,” “anticipate,” “expect,” “project,” “intend,” “will continue,” “will likely result,” “should” or words or phrases of similar meaning. Forward-looking statements involve known and unknown risks and uncertainties that may cause actual results of the Company to differ materially from the forward-looking statements. Actual results, events and performance may differ materially. Readers are cautioned not to place undue reliance on these forward-looking statements as a prediction of actual results. The Company has no obligation or intent to release publicly any revisions to any forward looking statements, whether as a result of new information, future events, or otherwise.