RF Industries divides its profits with investors- hikes quarterly dividend.
Northern, WI 03/25/2013 (avauncer) - RF Industries, Ltd (NASDAQ:RFIL) (Current: $6.64, Up by 0.76%) made an announcement that its company board had hiked its normal quarterly cash dividend from $0.05 to $0.07 per common share which was an increase of 40 percent. Since the company had already speeded-up with the payment of the dividend of $0.05 for the fiscal quarter ending December 2012, this latest dividend is considered to a very special one. RF Industries, Ltd (NASDAQ:RFIL) has around 7,500,000 common shares which are outstanding.
Profitability and stability
This special cash dividend of $0.07 per share will be payable to its shareholders on records as of April 1 and will be cleared on April 16. Howard Hili the company Chief Executive Officer said that the fact that the company has made this decision to give out this dividend to its investors is indicative of its strong balance sheet and cash position. He went on to say that RF Industries, Ltd (NASDAQ:RFIL) is happy that they are able to share all the profits with their investors in this substantial manner.
The company is in the business of designing, manufacturing and distributing Radio Frequency (RF) cable assemblies and connectors, RF wireless products, fiber optic cable products and medical cabling products.