Bolt Technology Announces Special Dividend
NORWALK, Conn., Nov 22, 2011 (GlobeNewswire via COMTEX) -- Bolt Technology Corporation BOLT +6.28% today announced that its Board of Directors has declared a special cash dividend in the amount of $1.00 per share to be paid on December 20, 2011 to shareholders of record on December 6, 2011.
Commenting on the dividend, Raymond M. Soto, Chairman, President and CEO, said, "The special dividend reflects the Company's profitability during the last several years and enforces our commitment to delivering shareholder value. The Company has a strong balance sheet which included over $31 million in cash at September 30, 2011. The special dividend payment of approximately $8.6 million should not impair our ability to pursue our corporate strategies, including the repurchase of our stock and future acquisitions. In addition to declaring the special dividend, the Board is also considering the institution of a regular quarterly dividend based on, among other things, future operating profitability."
Why didn`t I sell at a profit
