TransAct Technologies declares quarterly cash dividend of USD 0.08 per share

The $0.08 quarterly cash dividend declared by the Board will be payable on December 15, 2014, to shareholders on record at the close of business on November 20, 2014. On an annualized basis, the quarterly dividend represents a yield of 5.6% based on the US$ 5.73 per share closing price of the company's stock on October 31, 2014. 

The Board of Directors also modified TransAct’s current share repurchase authorization, announced in August for up to US$ 7.5 million of the Company’s outstanding shares. The share repurchase authorization now includes the repurchase of up to $4 million of the Company’s outstanding shares through April 30, 2015 pursuant to a new Rule 10b5-1 trading plan. 

The Rule 10b5-1 plan allows the Company to adopt a written plan for trading securities in a non-discretionary, pre-scheduled manner, including during normal quarterly blackout periods. TransAct expects to enter into the new 10b5-1 trading plan in early November 2014. 

Through September 16, 2014, the beginning of the Company’s blackout period prior to the reporting of its 2014 third quarter results, and pursuant to the initial $7.5 million repurchase plan authorized in August, TransAct has repurchased approximately 109,000 shares of its common stock for total consideration of approximately US$ 0.8 million.