ROANOKE, Va., Dec. 6, 2012 /PRNewswire/ -- Optical Cable Corporation (Nasdaq GM: OCC) ("OCC ®" or the "Company") today announced the declaration of a regular quarterly cash dividend to OCC's shareholders.
OCC's Board of Directors declared a cash dividend of $0.02 per share on the Company's common stock effective December 6, 2012. The dividend will be paid on or about December 21, 2012, to shareholders of record on December 17, 2012.
The amount of this quarterly dividend represents an increase of more than 33%, or $0.005 per share, as compared to the regular quarterly dividends declared by the Company during fiscal year 2012, and implies an annual cash dividend of $0.08 per common share.
OCC's Board of Directors decided to accelerate the declaration and payment of the first quarterly dividend for fiscal year 2013 — which would normally be declared in January 2013 and paid in February 2013. It is anticipated that OCC's next quarterly dividend will be declared in April 2013, consistent with OCC's normal quarterly dividend declaration schedule.Neil Wilkin, President and Chief Executive Officer of OCC, said, "We are pleased that OCC's net sales and earnings growth enables us to increase the return of capital to shareholders. The Board's action demonstrates our confidence in OCC's strategy and our commitment to creating shareholder value." Company Information Optical Cable Corporation ("OCC ®") is a leading manufacturer of a broad range of fiber optic and copper data communications cabling and connectivity solutions primarily for the enterprise market, offering an integrated suite of high quality, warranted products which operate as a system solution or seamlessly integrate with other providers' offerings. OCC's product offerings include designs for uses ranging from commercial, enterprise network, datacenter, residential and campus installations to customized products for specialty applications and harsh environments, including military, industrial, mining and broadcast applications. OCC products include fiber optic and copper cabling, fiber optic and copper connectors, specialty fiber optic and copper connectors, fiber optic and copper patch cords, pre-terminated fiber optic and copper cable assemblies, racks, cabinets, datacom enclosures, patch panels, face plates, multi-media boxes and other cable and connectivity management accessories, and are designed to meet the most demanding needs of end-users, delivering a high degree of reliability and outstanding performance characteristics. OCC ® is internationally recognized for pioneering the design and production of fiber optic cables for the most demanding military field applications, as well as of fiber optic cables suitable for both indoor and outdoor use, and creating a broad product offering built on the evolution of these fundamental technologies. OCC also is internationally recognized for its role in establishing copper connectivity data communications standards, through its innovative and patented technologies. Founded in 1983, OCC is headquartered in Roanoke, Virginia with offices, manufacturing and warehouse facilities located in each of Roanoke, Virginia, near Asheville, North Carolina, and near Dallas, Texas. OCC primarily manufactures its fiber optic cables at its Roanoke facility which is ISO 9001:2008 registered and MIL-STD-790F certified, its enterprise connectivity products at its Asheville facility which is ISO 9001:2008 registered, and its military and harsh environment connectivity products and systems at its Dallas facility which is ISO 9001:2008 registered and MIL-STD-790F certified. Optical Cable Corporation, OCC, Procyon, Superior Modular Products, SMP Data Communications, Applied Optical Systems, and associated logos are trademarks of Optical Cable Corporation.
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