MELVILLE, N.Y.?()?December 6, 2012?Comtech Telecommunications Corp. (NASDAQ: CMTL)
announced today that its Board of Directors declared a quarterly cash
dividend of $ 0.275 per share, payable on December 27, 2012, to
shareholders of record at the close of business on December 17, 2012.
The dividend is the Company?s tenth consecutive?quarterly dividend.
While future dividends will be subject to Board approval, the Board of
Directors is currently targeting annual dividend payments aggregating
$ 1.10 per share.
?We are confident in the overall strength of our business and its
ability to continue to generate the strong cash flows that would enable
the Company to continue to return cash to our shareholders both through
quarterly dividends and additional stock repurchases?
The Company also announced today that its Board of Directors has
authorized a new $ 50.0 million stock repurchase program. These
repurchases may be made in open-market or privately negotiated
transactions and may be made pursuant to SEC Rule 10b5-1 trading plans.
This program will be effective upon the completion of the Company?s
current $ 250.0 million stock repurchase program, of which $ 11.3 million
remains available for stock repurchases. Together with the new $ 50.0
million stock repurchase program, the Company is authorized to
repurchase up to an additional $ 61.3 million of its common stock.
?We are confident in the overall strength of our business and its
ability to continue to generate the strong cash flows that would enable
the Company to continue to return cash to our shareholders both through
quarterly dividends and additional stock repurchases,? said Fred
Kornberg, President and Chief Executive Officer of Comtech.
Comtech Telecommunications Corp. designs, develops, produces and markets
innovative products, systems and services for advanced communications
solutions. The Company believes many of its solutions play a vital role
in providing or enhancing communication capabilities when terrestrial
communications infrastructure is unavailable, inefficient or too
expensive. The Company conducts business through three complementary
segments: telecommunications transmission, RF microwave amplifiers and
mobile data communications. The Company sells products to a diverse
customer base in the global commercial and government communications
markets. The Company believes it is a market leader in the market
segments that it serves.
Certain information in this press release contains statements that are
forward-looking in nature and involve certain significant risks and
uncertainties. Actual results could differ materially from such
forward-looking information. The Company?s Securities and Exchange
Commission filings identify many such risks and uncertainties. Any
forward-looking information in this press release is qualified in its
entirety by the risks and uncertainties described in such Securities and
Exchange Commission filings.
PCMTL
ny jets ny jets the situation tim tebow jets katy perry part of me video photoshop cs6 beta cate blanchett
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.