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COMMUNICATIONS SYSTEMS, INC. DECLARES QUARTERLY DIVIDEND OF $0.16 PER SHARE – MAY, 2016
Posted by Pineapple on May 24th, 2016
Minnetonka, MN – May 19, 2016 – Communications Systems, Inc. (NASDAQ: JCS) (“CSI” or the “Company”), a global provider of physical connectivity infrastructure and services for deployments of broadband networks, today announced that its Board of Directors has declared a cash dividend of $0.16 per common share. The dividend will be payable on July 1, 2016 to shareholders of record as of June 15, 2016.
This marks the 55th consecutive quarter that CSI has paid a dividend to its shareholders.
This dividend payment decision, as has been the Board of Directors’ usual practice, was based on the Company’s profitability, free cash flow, capital expenditure requirements to fund growth initiatives, and available cash. It is anticipated that these considerations will continue to form the basis of future dividend decisions.
In addition, the Company announced that a copy of the presentation to be given today at its 2016 Annual Meeting of Shareholders will be available in the Investor Resources section of CSI’s website.
Certain statements in this press release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on Communications Systems’ current expectations or beliefs and are subject to uncertainty and changes in circumstances. Actual results or events may vary materially from those expressed or implied by the statements herein due to changes in economic, business, competitive or regulatory factors, and other risks and uncertainties affecting the operation of Communications Systems’ business. These risks, uncertainties and contingencies are presented in the Company’s Annual Report on Form 10-K and, from time to time, in the Company’s other filings with the Securities and Exchange Commission. The information set forth herein should be read in light of such risks. Communications Systems is under no obligation to, and expressly disclaims any obligation to, update or alter its forward-looking statements, whether as a result of new information, future events, changes in assumptions or otherwise.
About Communications Systems
Communications Systems, Inc. provides connectivity infrastructure and services for global deployments of broadband networks. Focusing on innovative, cost-effective solutions, CSI provides customers the ability to deliver, manage, and optimize their broadband network services and architecture. From the integration of fiber optics in any application and environment to efficient home voice and data deployments to optimization of data and application access, CSI provides tools for maximum utilization of the network from the edge to the user. With partners and customers in over 50 countries, CSI has built a reputation as a reliable global innovator focusing on quality and customer service.
|Communications Systems, Inc||The Equity Group Inc.|
|Edwin C. Freeman||Devin Sullivan|
|Chief Financial Office||Senior Vice President|
|Roger H. D. Lacey||Kalle Ahl, CFA|
|Chief Executive Officer||Senior Associate|