Rimage Corporation (Nasdaq:RIMG) today announced that its Board of Directors has approved a quarterly dividend of $0.17 per share, payable on March 20, 2012 to shareholders of record on March 5, 2012. Based on the current stock price, this represents an approximately 6% yield. “Last quarter, the Board approved a 70% increase in the quarterly dividend to $0.17 per share based on its expectations of double digit revenue growth in 2012 and continued strong cash generation,” said Sherman Black, president and CEO of Rimage. “The outlook for Rimage remains strong and the Board has acknowledged its confidence through its approval of this second $0.17 per share quarterly dividend.” About Rimage Corporation Founded in 1978, Rimage Corporation (NASDAQ: RIMG) helps businesses deliver digital content directly and securely to their customers and employees. Its disc publishing business, based in Minneapolis, Minnesota, supplies more than 10,000 customers in North America, Europe and Asia with industry-leading solutions that archive, distribute and protect content on CDs, DVDs and Blu-Ray Discs™. With its acquisition of Qumu, Rimage is a leader in the rapidly growing enterprise video communications market. The combination of Qumu and Rimage’s disc publishing business and virtual publishing initiative enables businesses to securely deliver their videos, documents, audio files and images in today’s multi-platform, multi-device world. Additional information can be found at www.rimagecorp.com. Blu-ray Disc™ is a trademark of the Blu-ray Disc Association.
Shares of Rimage Corporation (Nasdaq:RIMG) were gapping down Monday morning with an open price 14.6% lower than Friday's closing price. The stock closed at $13.18 yesterday and opened today's trading at $11.25.