inTEST Declares Special One-Time Cash Dividend of $0.08 per Share
inTEST Corporation (NASDAQ: INTT), an independent designer, manufacturer and marketer of temperature management products and semiconductor automatic test equipment (ATE) interface solutions, today announced that its Board of Directors has approved the declaration of a one-time special dividend of $0.08 per share to be paid on December 17, 2012 to the Corporation's stockholders of record at the close of business on December 10, 2012. The dividend will be funded with available cash on hand.
Robert E. Matthiessen, inTEST Corporation's President and Chief Executive Officer, said, "The Board considered a variety of factors in reaching the decision to declare a dividend at this time, noting that the likelihood of an increase in the tax rates in 2013 would be economically disadvantageous to our stockholders. inTEST has and will continue to have a strong balance sheet after payment of the dividend, with over $16 million in cash and cash equivalents and approximately $21 million in working capital at the present time. Our management remains committed to its strategy of diversified growth through acquisition and remains well positioned in the event such an opportunity arises."
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.