Daktronics Announces a Change From a Semi-Annual Dividend to a Quarterly Cash
BROOKINGS, S.D., Aug. 26, 2013 (GLOBE NEWSWIRE) -- Daktronics, Inc.
(Nasdaq:DAKT) today announced that its Board of Directors on August 22, 2013
approved a change from a regular semi-annual cash dividend to a regular
quarterly cash dividend.
"Given our cash and marketable securities position and our confidence in our
ability to continue to generate free cash flow from the business over the
long-term, the Board has approved the payment of a regular quarterly
dividend," said Jim Morgan, president and chief executive officer.
The quarterly dividend of $0.09 per share will be payable on September 20,
2013, to shareholders of record as of the close of business on September 6,
2013. While the company intends to pay regular quarterly dividends for the
foreseeable future, subsequent dividends will continue to be reviewed
quarterly and declared by the Board at its discretion.
Daktronics has strong leadership positions in, and is the world's largest
supplier of, large screen video displays, electronic scoreboards, LED text and
graphics displays, and related control systems. The company excels in the
control of display systems, including those that require the integration of
multiple complex displays showing real-time information, graphics, animation
and video. Daktronics designs, manufactures, markets and services display
systems for customers around the world in four domestic business units:Live
Events, Commercial, Schools and Theatres, and Transportation, and one
International business unit. For more information, visit the company's World
Wide Web site at: http://www.daktronics.com, e-mail the company at
email@example.com, call (605) 692-0200 or toll-free (800) 843-5843 in
the United States or write to the company at 201 Daktronics Dr., PO Box 5128,
Brookings, S.D. 57006-5128.
Safe Harbor Statement
Cautionary Notice: In addition to statements of historical fact, this news
release contains forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995 and is intended to enjoy the
protection of that Act.These forward-looking statements reflect the Company's
expectations or beliefs concerning future events. The Company cautions that
these and similar statements involve risk and uncertainties which could cause
actual results to differ materially from our expectations, including, but not
limited to, changes in economic and market conditions, management of growth,
timing and magnitude of future contracts and orders, fluctuations in margins,
the introduction of new products and technology, the impact of adverse weather
conditions, increased regulation and other risks described in the company's
SEC filings, including its Annual Report on Form 10-K for its 2013 fiscal
year.Forward-looking statements are made in the context of information
available as of the date stated. The Company undertakes no obligation to
update or revise such statements to reflect new circumstances or unanticipated
events as they occur.
CONTACT: INVESTOR RELATIONS:
Sheila M. Anderson, Chief Financial Officer
Tel (605) 692-0200
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