Park Electrochemical Corp. (NYSE – PKE) announced the retirement of Lloyd Frank from its Board of Directors after 28 years of outstanding service. Brian Shore, Park’s President, CEO and Chairman of the Board, said, “Lloyd is a lover of Park and a true friend to Park and to me. My advice to anyone who might be interested in it is, if you ever are fortunate enough to have a friend like Lloyd, make sure you cherish that friendship, as that kind of friendship can be pretty rare. Park and I are and will always be in Lloyd’s debt, and we will miss him. Thank you, Lloyd, for your outstanding service to Park over the last 28 years. We wish you all the best of everything.” 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. Additional corporate information is available on the Company’s website at www.parkelectro.com.
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.