TransAct Technologies initiates quarterly cash dividend policy
The company anticipates paying a cash dividend in December, March, June and September of each year. Future declarations of dividends are subject to Board approval and may be adjusted as business needs or market conditions change.
In conjunction with its dividend policy, the firm is suspending its previously announced 10b5-1 stock repurchase program; however, the company remains authorized to purchase stock from time to time under its existing us$ 15 million stock buyback program depending on market conditions and other factors.
"Our Board's decision to institute a dividend policy at this time underscores our commitment to enhancing shareholder value," said Bart C. Shuldman, Chairman and CEO of TransAct Technologies. "The policy reflects the strength of our balance sheet, our fundamental ability to generate free cash flow and our confidence in the future prospects of our business."
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