CSP Inc. to Institute Quarterly Dividend
Decision Reflects Strength of Business and Commitment to Building Shareholder
BILLERICA, Mass., March 4, 2013 (GLOBE NEWSWIRE) -- CSP Inc. (Nasdaq:CSPI), a
provider of IT solutions, systems integration services and dense cluster
computing systems, today announced that the Company's Board of Directors has
voted to institute a quarterly dividend of $0.03 per share, beginning with the
second quarter of fiscal 2013. On a quarterly basis the Board will set the
record date and the payment date for each distribution of the quarterly
dividend. The Board also will continue to evaluate the ability to pay a
special annual dividend on a yearly basis.
"The decision to institute a quarterly dividend to our shareholders reflects
the continued strength of our business and the board's commitment to building
shareholder value," said President and Chief Executive Officer Victor Dellovo.
"We are pleased to have moved from a potential annual special dividend to the
commitment of a quarterly dividend as well as the potential for an annual
dividend. We look forward to continuing to leverage our strong cash position
to grow our company while rewarding shareholders."
About CSP Inc.
Based in Billerica, Massachusetts and founded in 1968, CSP Inc. and its
subsidiaries develop and market best-of-breed IT solutions, systems
integration services, and high-performance computer systems.CSP's Systems
segment includes the MultiComputer Division, which supplies high-performance
Linux cluster systems for a broad array of defense applications, including
radar, sonar and surveillance signal processing.The Company's MODCOMP Inc.
subsidiary, also part of its Service and Systems Integration segment founded
in 1970, is a leading provider of IT solutions and systems integration
services for complex IT environments.MODCOMP works with third parties to
develop cutting edge solutions in the global IT markets and has offices in the
U.S., U.K. and Germany.More information about CSP is available on the
company's website at www.cspi.com.To learn more about MODCOMP, Inc., consult
The CSP, Inc. logo is available at
The Company wishes to take advantage of the "Safe Harbor" provisions of the
Private Securities Litigation Reform Act of 1995 with respect to statements
that may be deemed to be forward-looking under the Act.Such forward-looking
statements may include, but are not limited to, those relating to the
Company's intent to issue a quarterly dividend.The Company cautions that
numerous factors could cause actual results to differ materially from
forward-looking statements made by the Company.Such risks include general
economic conditions, market factors, competitive factors and pricing
pressures, and others described in the Company's filings with the SEC.Please
refer to the section on forward-looking statements included in the Company's
filings with the Securities and Exchange Commission.
CONTACT: Gary Levine
Chief Financial Officer
Tel: 978.663.7598 ext. 1200
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