Sypris Solutions, Inc. (Nasdaq/NM: SYPR) today announced that its Board of Directors declared a regular quarterly cash dividend of $0.02 (two cents) per share on March 5, 2012. The dividend will be payable on April 16, 2012 to shareholders of record as of March 20, 2012. Sypris Solutions currently has 19.8 million shares outstanding.
"We are pleased to report that our financial strength will now provide a greater return to our stockholders that is consistent with our growth and continued investments in research and development and capacity expansion," said President and Chief Executive Officer, Jeffrey T. Gill. "The Sypris Board intends to review the ongoing payment of a dividend each quarter for the foreseeable future."
Sypris Solutions is a diversified provider of outsourced services and specialty products. The Company performs a wide range of manufacturing, engineering, design and other technical services, typically under multi-year, sole-source contracts with corporations and government agencies in the markets for truck components and assemblies and aerospace and defense electronics. For more information about Sypris Solutions, visit its Web site at www.sypris.com.
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