RF Industries Ltd. (NASDAQ: RFIL)
announced that its Board of Directors has increased its regular quarterly cash dividend by 40% from $0.05 per common share to $0.07 per common share, and that it will pay this increased dividend starting in this current quarter. Since the Company previously accelerated payment of the $0.05 per share dividend for this fiscal quarter in December 2012, this new $0.07 per share dividend is deemed to be a special dividend. RFI has approximately 7,500,000 common shares outstanding.
The special cash dividend will be payable April 16, 2013 to shareholders of record as of April 1, 2013.
“Our decision to pay this one-time special dividend reflects the Company’s strong cash position and balance sheet. We are pleased to have this opportunity to share our success with our shareholders,” said Howard Hill, CEO of RF Industries.
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.
This press release contains forward-looking statements with respect to future events which are subject to a number of factors that could cause actual results to differ materially. These forward-looking statements are not guarantees of future performance and involve risks, assumptions and uncertainties, including those described in “Risk Factors” in the Company’s public filings with the Securities and Exchange Commission (
) including its Form 10-K.
All forward-looking statements are based upon information available to the Company on the date they are published and the Company undertakes no obligation to publicly update or revise any forward-looking statements to reflect events or new information after the date of this release.