DULUTH, Minn., Dec. 10, 2012 (GLOBE NEWSWIRE) -- IKONICS Corporation (Nasdaq:IKNX), a Duluth based imaging technology company, today announced that its Board of Directors declared a one-time special cash dividend of $1.00 per share, payable on December 31, 2012 to shareholders of record at the close of business on December 20, 2012. The total amount of the one-time dividend will be approximately $2.0 million based on the current number of shares outstanding and will be paid with current cash reserves. IKONICS CEO, Bill Ulland commented, "We are pleased to declare this special dividend to our shareholders. This dividend reflects our strong balance sheet, steady performance over the past years, and our optimism for IKONICS' future. We believe this dividend, the first cash dividend in our Company's history, is an appropriate way to reward our shareholders and maximize their benefit from this one-time event prior to potential tax rate increases in 2013."
CONTACT: Bill Ulland Chairman, President & CEO (218) 628-2217