Superior Uniform Announces Special Dividend as Prepayment of Regular 2013 Dividends
December 11 2012 - 11:27AM
As part of its ongoing commitment to maximize value to its
shareholders, the Board of Directors of Superior Uniform Group,
Inc. (Nasdaq:SGC) declared a special dividend of $.54 per share,
payable December 31, 2012, to shareholders of record as of December
21, 2012. This dividend represents a prepayment of the Company's
regular quarterly dividends for 2013. The special dividend will
result in a total cash outlay of approximately $3.3 million. For
2012, the Company's dividend payments will total $1.08 per share.
CEO Michael Benstock stated "We believe today's announcement of the
prepayment of the Company's 2013 dividend provides us with a
tax-efficient method to return capital to our shareholders prior to
the anticipated significant increase in tax rates associated with
dividend payments. We continue to have great confidence in the
future growth opportunities for our company. Our very strong
financial position puts us in a position to be able to make this
advance payment without hindering our ability to invest in our
future."
ABOUT SUPERIOR UNIFORM GROUP, INC.
Superior Uniform Group, Inc. (Nasdaq:SGC), established in 1920,
is one of America's foremost providers of fine uniforms and image
apparel. Headquartered in Seminole, Fla., Superior Uniform Group
manages award-winning uniform apparel programs for major
corporations nationwide. Leaders in innovative uniform
program design, global manufacturing and state-of-the-art
distribution, Superior Uniform Group helps companies achieve a
professional appearance and communicate their brands—particularly
those in the healthcare, hospitality, food service, retail and
private security industries. The company's commitment to service,
technology, quality and value-added benefits, as well as its
financial strength and resources, support customers' diverse needs
while embracing a "Customer 1st, Every Time!" philosophy and
culture. Superior Uniform Group is the parent company to The
Office Gurus® and everyBODY media®. For more information,
call (800) 727-8643 or visit www.superioruniformgroup.com.
Statements contained in this press release which are not
historical facts may constitute forward-looking statements as that
term is defined in the Private Securities Litigation Reform Act of
1995. All forward-looking statements are subject to risks and
uncertainties, including without limitation, those identified in
the Company's SEC filings, which could cause actual results to
differ from those projected.
CONTACT: Andrew D. Demott, Jr., CFO
(727) 803-7135
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