ManTech International Corporation (NASDAQ:MANT) ( www.mantech.com), a leading provider of innovative technologies and solutions for mission-critical national security programs, today announced financial results for the fourth quarter and fiscal year 2011, which ended Dec. 31, 2011.
“Fiscal year 2011 was an excellent year for ManTech, marked by double-digit revenue growth, increased profits, excellent cash flow, solid contract awards and the implementation of a regular dividend program to provide our shareholders with a compelling value proposition,” said ManTech Chairman and Chief Executive Officer George J. Pedersen. “As a result of our disciplined focus on cash, we generated record operating cash flow of $221 million for the year, which enables us to continue our robust acquisition program. The recent acquisitions of WINS and Evolvent enhance our positioning in faster growing market segments, such as information technology and cyber security for the intelligence and federal health care communities. We are confident that ManTech can continue to thrive even as federal spending slows because of our current positioning in cyber security, C4ISR, intelligence and other priority missions and access to more than 1,000 active contracts as well as our ability to target new growth markets with our strong balance sheet and proven history in identifying, executing and integrating acquisitions.”
Beginning in 2012, the company intends to pay dividends quarterly rather than semi-annually. The Board of Directors has declared a cash dividend of $0.21 per share, which will be paid on March 23, 2012 to all common stockholders of record as of March 9, 2012. ManTech anticipates paying equivalent quarterly dividends near the end of each fiscal quarter. Based on the current number of outstanding shares, the anticipated total dividend for 2012 of $0.84 per share of common stock implies a payout of $31 million. The annual yield is approximately 2½ percent based on the closing price on February 21, 2012. Future declarations of quarterly dividends and their record and payment dates are subject to the final determination of ManTech’s Board of Directors.
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