24/7 Market News- Frequency Electronics BoD Declares Special $1.00 Per Share Cash Dividend

July 23, 2024

DENVER, Colo., Jul 23, 2024 (247marketnews.com)- Frequency Electronics, Inc. (NASDAQ:FEIM) announced that its Board of Directors declared a special cash dividend of $1.00 per share of common stock that will be payable on August 29, 2024, to stockholders of record as of the close of business on August 8, 2024.

Tom McClelland, FEI’s President and CEO, stated, “Today our Board of Directors declared a $1.00 per share special cash dividend. Since we paid our previous special dividend 18 months ago, we have continued to improve the profitability and cash generation of the Company, allowing us to once again return cash to stockholders. Our strong balance sheet allows us to pay this dividend while maintaining our ability to invest in the business for future success, and our growth in revenue, backlog and positioning on critical next-generation platforms has demonstrated that we can both profitably grow the business and return capital to stockholders as we do so. After paying this dividend we will remain debt free, and our focus on sustained profitability and cash generation should help us maintain a strong balance sheet in the future.”

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