Savvy Trades and Investments

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SMID announces a .01 special dividend. We're rich! Ha I do like the reason for the reduced dividend. But wonder why even go to the trouble of paying out a measly penny.

From the PR:

While the special dividend is less than the dividends of the last four years, Smith-Midland Corporation is in the process of evaluating its current requirements for purchasing new machinery, equipment and its need for additional physical facilities. Smith-Midland must be ready to meet the demands of the rapidly expanding need for highway infrastructure precast concrete products, i.e. Sierra soundwall and J-J Hooks concrete safety barrier in its geographical sales areas. Smith-Midland plans to preserve the majority of its cash balances in anticipation of capital purchases over the next 12 to 18 months.

http://finance.yahoo.com/news/smith-midland-corporation-declares-special-213200639.html