RF Industries (NASDAQ:RFIL) announced today that its Board of Directors has declared a regular quarterly cash dividend of $0.05 per common share and has decided to accelerate a portion of its anticipated calendar 2013 common stock dividend payments into calendar 2012. Accordingly, RFI will pay a $0.10 per common share dividend on December 28, 2012 to shareholders of record on December 17, 2012. RFI has approximately 6.9 million shares outstanding.
"In light of tax uncertainties related to the upcoming calendar year, the Board of Directors believes that RFI's shareholders will benefit from moving forward the payment of a portion of those dividends, which might otherwise be paid in 2013, into the current calendar year. We are confident that the strength of our business supports this payment and the Company remains fully committed to enhancing shareholder returns. The Board will continue to review and determine RFI's future dividend payout rate in light of the Company's business prospects, cash flow and opportunities for increasing shareholder value," said Howard Hill, RF Industries' Chief Executive Officer.
About RF Industries
RFI manufactures, designs and distributes Radio Frequency (RF) connectors and cable assemblies, medical cabling products, RF wireless products, and fiber optic cable products. Coaxial connectors, cable assemblies and custom microwave RF connectors are used for Wi-Fi, PCS, radio, test instruments, computer networks, antenna devices, aerospace, OEM and Government agencies. Medical Cabling and Interconnector products are specialized custom electrical cabling products for the medical equipment monitoring market. RF Wireless products include digital data transceivers for industrial monitoring, wide area networks, GPS tracking and mobile wireless network solutions. Fiber optic cable, connector and harness products serve computer, aerospace, computer networking and specialty applications.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 or a special one-time dividend does not commit the board of directors to declare future dividends or special 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.