This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Ecosphere Technologies, Inc. Announces A 5% Stock Dividend

Stocks in this article: ESPH

STUART, Fla., June 6, 2013 (GLOBE NEWSWIRE) -- Ecosphere Technologies, Inc. (OTCBB:ESPH), a water engineering, technology licensing and innovative U.S. manufacturing company, today announced that its Board of Directors approved a five percent (5%) common stock dividend to all common shareholders of record as of June 15, 2013.

"We are pleased to announce a stock dividend to reward our shareholders for their continued loyalty," stated Ecosphere Chairman and Chief Executive Officer, Dennis McGuire. "In recent years, Ecosphere has made significant strides in reducing debt and generating positive cash flow for the Company. We positioned Ecosphere to be a leading developer of innovative, patented solutions for some of the world's toughest challenges and have been recognized by leading industry peers. The Board of Directors joins me in thanking our shareholders for their continued support."

Ecosphere Chief Financial Officer David Brooks added, "The Company's innovative patented Ozonix® technology has fueled our rapid growth to date. We believe it's the right time to reward our shareholders for our improved financial position."

2012 Highlights and Recent Key Achievements

  • 2012 revenue increased by approximately 48% over 2011
  • 2012 was the first year of net income in Company history
  • 2012 was the second consecutive year of positive cash flow from operations
  • On May 24, 2013, Ecosphere sold 12% of its ownership interest in Ecosphere Energy Services ("EES") to Fidelity National Financial, Inc. ("FNF"), for $6 million.
  • Ecosphere recognized a $28 million gain from the FNF transaction.
  • Since 2008, Ecosphere has generated approximately $63 million of revenue related to the manufacture, delivery and operation of 42 Ozonix® mobile wastewater treatment systems for the oil and gas industry.
  • Since 2008, the Ecosphere Ozonix® technology has been used to treat, recycle and reuse approximately 3 billion gallons of water on more than 700 oil and natural gas wells in major shale plays around the United States.
  • Ecosphere was chosen by Bloomberg New Energy Finance as a 2013 New Energy Pioneer
  • Ecosphere was chosen as a 2013 IHS CERAWeek Energy Innovation Pioneer
  • Ecosphere was awarded the Frost & Sullivan 2012 "North American Product Leadership Award" for disinfection equipment in the shale oil and gas wastewater treatment market
  • Ecosphere was chosen for the last three (3) consecutive years as an Artemis "Top 50" water treatment company.

About Ecosphere Technologies

Ecosphere Technologies, Inc. (OTCBB:ESPH) is a water engineering, technology licensing and innovative U.S. manufacturing company that develops environmental water treatment solutions for industrial markets throughout the world. The Company is a leader in emerging advanced oxidation processes and has an extensive portfolio of intellectual property that includes five United States patents for the Ecosphere Ozonix® process. The patented Ecosphere Ozonix® process is a revolutionary advanced oxidation process that is currently being used by energy exploration companies to reduce costs, increase treatment efficiencies and eliminate liquid chemicals from wastewater treatment operations around the United States.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,614.81 +215.14 1.31%
S&P 500 1,941.28 +37.27 1.96%
NASDAQ 4,419.4780 +103.4040 2.40%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs