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Daktronics Announces Special Dividend of $0.40 per Share

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Daktronics, Inc. (Nasdaq: DAKT) today announced that its Board of Directors approved a regular semi-annual cash dividend of $0.11 per share and a special dividend of $0.40 per share.

"Given our cash and marketable securities position of more than $90 million as of the end of the second quarter of fiscal 2012 and our belief that we will continue to generate and increase free cash flow from the business over the long-term, we felt that it was appropriate to not only declare a special dividend, but to also increase our regular dividend which previously was an $0.11 annual dividend," said Jim Morgan, president and chief executive officer. "We continue to be optimistic that not only can we expand our top line, but we are committed to improvements in earnings and free cash flow that supports this increase in the frequency and amount of our regular dividend."

The semi-annual and special cash dividends will be payable on December 22, 2011, to shareholders of record as of the close of business on December 8, 2011. While the company intends to pay regular semi-annual dividends for the foreseeable future, subsequent dividends will continue to be reviewed annually and declared by the Board at its discretion.

 

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