Synalloy Announces Dividend Payment and Termination of the At-the-Market Equity Offering Program
Synalloy Corporation (SYNL)
US:NASDAQ Investor Relations:
investor.synalloy.com/investor-relations
Company Research
Source: GlobeNewswire
RICHMOND, Va., Nov. 16, 2018 (GLOBE NEWSWIRE) -- Synalloy Corporation is pleased to announce that its Board of Directors has declared an annual dividend payment of $0.25 per share, payable on December 12, 2018 to holders of record on November 30, 2018. This represents a 92% increase over the prior year’s annual dividend of $.13 per share. “2018 will be a record year for the Company, by far, in terms of both sales and profits,” said Craig C. Bram, President and CEO. “Distributing a portion of these profits to our shareholders is a practice that will continue when our financial results exceed our projected capital requirements,” said Bram. In determining the amount of this year’s annual dividend, the Board considered the need to maintain a strong balance sheet as the Company continues to pursue growth initiatives going forward. The Board will review at or near the end of each fiscal year the Company’s financial performance, cash and debt levels, as well as capital needed to support
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