Omega Flex, Inc. Announces Special Dividend to Shareholders
December 16 2019 - 3:15PM
Omega Flex, Inc. (the “Company”) (NASDAQ: OFLX) today announced
that the Board of Directors declared a special dividend of
$3.50 per share payable on December 30, 2019 to
shareholders of record on December 26,
2019. According to a company statement, “The Board of
Directors has reviewed the anticipated cash needs of the
Corporation, and determined that the Corporation has cash and cash
equivalents on-hand in excess of the amount necessary to meet the
obligations incurred in its operations, fund capital expenditures,
and fulfill its corporate objectives, as well as access to an
existing revolving line of credit. The Board of Directors takes
seriously its responsibility to the Corporation’s shareholders, and
given that the Corporation maintains excess cash and cash
equivalent assets, the Corporation will return those assets to the
shareholders through a special dividend of $3.50 per share.”
This news release contains forward-looking statements, which are
subject to inherent uncertainties which are difficult to predict,
and may be beyond the ability of our control.
Certain statements in this news release constitute
forward-looking statements with the meaning of the Private
Securities Litigation Reform act of 1995, that are not historical
facts but rather reflect our current expectations concerning future
results and events. The words “believes,” “expects,”
“intends,” “plans,” “anticipates,” “hopes,” “likely,” “will,” and
similar expressions identify such forward-looking statements.
Such forward-looking statements involve known and unknown risks,
uncertainties and other important factors that could cause the
actual results, performance or achievements of the Company
(including its subsidiaries and affiliates) or industry results, to
differ materially from future results, performance or achievements
expressed or implied by such forward-looking statements.
Readers are cautioned not to place undue reliance on these
forward-looking statements which reflect management’s view only as
of the date of this news release. We undertake no obligation
to publicly release the result of any revisions to these
forward-looking statements which may be made to reflect events or
circumstances after the date hereof or to reflect the occurrence of
unanticipated events, conditions or circumstances.
Contact: Kevin R. Hoben(860) 704-6820
Omega Flex (NASDAQ:OFLX)
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