Park Electrochemical Corp. (NYSE:PKE) announced the appointments of John Jongebloed as Vice President of Business Development and Thomas E. Warren as Director of Business Development. Mr. Jongebloed will continue to report to Brian E. Shore, the President and Chief Executive Officer of Park, and Mr. Warren will report to P. Matthew Farabaugh, Vice President and Chief Financial Officer of Park. Mr. Jongebloed has been employed by Park Electrochemical Corp. and its subsidiaries in various positions since 1989. He was President of Park’s New England Laminates Co., Inc. business unit in Newburgh, New York from 1999 until January 2009 and President of Park’s Park Advanced Composite Materials, Inc. business unit in Waterbury, Connecticut from 2007 until December 2012. Mr. Jongebloed was also appointed Vice President of Global Logistics of Park Electrochemical Corp. in April 2000 and Senior Vice President of Global Logistics from July 2001 to January 2006. Mr. Warren has been employed by Park Electrochemical Corp. and its subsidiaries in various positions since 1983. He was Production Control Manager of Park’s New England Laminates Co., Inc. business unit from 1994 to 1999 and from 2003 until January 2009. He was the Global Logistics Manager for Park Electrochemical Corp. from 1999 to 2003 and Production Control Manager of Park’s Advanced Composite Materials, Inc. business unit from 2009 until December 2012. Park Electrochemical Corp. is a global advanced materials company which develops and manufactures high-technology digital and RF/microwave printed circuit materials principally for the telecommunications and internet infrastructure and high-end computing markets and advanced composite materials, parts and assemblies for the aerospace markets. Park’s core capabilities are in the areas of polymer chemistry formulation and coating technology. The Company’s manufacturing facilities are located in Singapore, France, Kansas, Arizona and California. The Company also maintains R & D facilities in Arizona, Kansas and Singapore.
Shareholders of Park Electrochemical Corp. looking to boost their income beyond the stock's 1.8% annualized dividend yield can sell the August covered call at the $25 strike and collect the premium based on the $1.00 bid, which annualizes to an additional 8.1% rate of return against the current stock price (at Stock Options Channel we call this the YieldBoost), for a total of 9.8% annualized rate in the scenario where the stock is not called away.