Special Dividend – Ex-dividend date October 18th

On September 13, 2021, Communications Systems, Inc. (“CSI”) issued a press release announcing that its board of directors had declared a special dividend of $3.50 per share payable on October 15, 2021, to CSI shareholders of record at the close of business on September 30, 2021.  Because the dividend exceeded 25% of the market price on the day we announced the dividend, we have been advised by Nasdaq that the ex-dividend date will be October 18, 2021, the first business day after the October 15, 2021 payment date.  Our paying agent processes dividends based on the September 30, 2021 record date and then Depository Trust & Clearing Corporation (“DTCC”) will handle any situations where the stock trades hands after the record date and prior to the  ex-dividend date.  As the issuer, CSI does not control this process, and will not give any legal advice about market rules.  We recommend you contact your market professional or contact Mr. O’Neil Blake of Nasdaq at 203-926-3518 with any questions you may have about this process.