IKONICS Declares One-Time Special Cash Dividend of $1.00 Per Share
DULUTH, Minn., Dec. 10, 2012 (GLOBE NEWSWIRE) -- IKONICS Corporation
(Nasdaq:IKNX), a Duluth based imaging technology company, today announced that
its Board of Directors declared a one-time special cash dividend of $1.00 per
share, payable on December 31, 2012 to shareholders of record at the close of
business on December 20, 2012. The total amount of the one-time dividend will
be approximately $2.0 million based on the current number of shares
outstanding and will be paid with current cash reserves. IKONICS CEO, Bill
Ulland commented, "We are pleased to declare this special dividend to our
shareholders. This dividend reflects our strong balance sheet, steady
performance over the past years, and our optimism for IKONICS' future. We
believe this dividend, the first cash dividend in our Company's history, is an
appropriate way to reward our shareholders and maximize their benefit from
this one-time event prior to potential tax rate increases in 2013."
After payment of the special dividend, the Company plans to continue executing
its existing growth plans with its remaining cash reserves and future cash
generated from operations. IKONICS has no long term debt.
This press release contains forward-looking statements regarding future plans,
operations and results that involve risks and uncertainties. The Company's
actual results could differ materially as a result of domestic and global
political and economic conditions, competitive market conditions, lack of
acceptance of new products, availability of equipment sold by the Company or
for use with its products, raw materials costs, unexpected capital expenditure
requirements, the ability to control costs without impacting growth as well as
the factors described in the Company's Form s 10-K, and 10-Q, and other
reports on file with the SEC.
The IKONICS Corporation logo is available at
CONTACT: Bill Ulland
Chairman, President & CEO
IKONICS Corporation Logo
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