CSP Inc. Declares Special Dividend 12c
The Board of Directors of CSP Inc. (NASDAQ: CSPI), a provider of IT solutions, systems integration services and dense cluster computing systems, announced that the Company has declared a special dividend of $0.12 per share payable on August 31 to shareholders of record on August 23.
The Board determined that it would declare the special cash dividend based on CSP's strong balance sheet and financial condition, and considering the Company's current working capital needs and potential investments in strategic growth opportunities.
“We are pleased to reward our shareholders with this special dividend as a result of our excellent performance thus far in fiscal 2012 and our strong balance sheet,” said Chairman and Chief Executive Officer Alexander R. Lupinetti. “At the conclusion of fiscal 2012, the board will evaluate CSP's financial performance, balance sheet strength and working capital requirements to determine the amount of an annual cash dividend, if any. Going forward, we will regularly evaluate the best use of capital to build long-term shareholder value.”
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.