Perceptron Announces $0.25 per Share Special Dividend
Perceptron (NASDAQ: PRCP) today announced a special dividend of $0.25 per share of common stock to be paid on November 1, 2012 to shareholders of record on October 10, 2012.
"We are very pleased to reward our shareholders through a special dividend," said Harry Rittenour, President and CEO of Perceptron. "With the completion of the sale of our Commercial Products Business Unit, the profitable year that our Industrial Business Unit had in fiscal year 2012, and our strong cash position, we felt it was appropriate to provide shareholders with an added return on their investment in Perceptron."
Richard Marz, Chairman of Perceptron's Board of Directors, added, "The Board has discussed a number of different options for how to best utilize the Company's cash resources, including taking into account the views of our shareholders. We believe a cash dividend is one of the ways we can provide value to our shareholders. The dividend declared by our Board today represents the start of what we intend to be an ongoing program of regular dividend payments."
Mr. Rittenour concluded, "The Company's June 30, 2012 backlog is strong, at approximately $30.2 million, which gives us confidence in our current expectation for modest and profitable growth in fiscal year 2013."
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