Communications Systems, Inc. is now Pineapple Energy (Nasdaq: PEGY)

On March 25, 2022, CSI Received Shareholder Approval to Merge with Pineapple Energy and Completed the Merger on March 28, 2022. CSI changed is name to Pineapple Holdings, Inc. and changed it’s Nasdaq ticker to PEGY and will operate as Pineapple Energy.
Communications Systems, Inc. is now Pineapple Energy (Nasdaq: PEGY)
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COMMUNICATIONS SYSTEMS, INC. DECLARES QUARTERLY DIVIDEND OF $0.16 PER SHARE – MAY, 2016

Posted by 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.

Forward-Looking Statements

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.

Contacts:    
Communications Systems, Inc   The Equity Group Inc.
Edwin C. Freeman   Devin Sullivan
Chief Financial Office   Senior Vice President
952-996-1674   212-836-9608
efreeman@commsysinc.com   dsullivan@equityny.com
 
Roger H. D. Lacey   Kalle Ahl, CFA
Chief Executive Officer   Senior Associate
952-996-1674   212-836-9614
    tmei@equityny.com
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