Comtech Telecommunications Corp. Declares $0.30 Per Share Quarterly Cash Dividend
October 06 2016 - 5:31PM
Business Wire
October 6, 2016–-Comtech Telecommunications Corp.
(NASDAQ:CMTL) announced today that its Board of Directors declared
a quarterly cash dividend of $0.30 per share, payable on
November 22, 2016, to shareholders of record at the close of
business on October 21, 2016. The dividend is the Company’s
twenty-fifth consecutive quarterly dividend. The Board of Directors
is currently targeting fiscal 2017 dividend payments aggregating
$1.20 per share while at the same time, during the first quarter of
fiscal 2017, the Board began further assessing the Company's
capital needs generally and the appropriate level of future
dividends. Future dividends also remain subject to compliance with
financial covenants under the Company's Secured Credit Facility as
well as Board approval.
Comtech Telecommunications Corp. designs, develops, produces and
markets innovative products, systems and services for advanced
communications solutions. The Company sells products to a diverse
customer base in the global commercial and government
communications markets.
Certain information in this press release contains statements
that are forward-looking in nature and involve certain significant
risks and uncertainties. Actual results could differ materially
from such forward-looking information. The Company's Securities and
Exchange Commission filings identify many such risks and
uncertainties. Any forward-looking information in this press
release is qualified in its entirety by the risks and uncertainties
described in such Securities and Exchange Commission filings.
PCMTL
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version on businesswire.com: http://www.businesswire.com/news/home/20161006006501/en/
Media:Michael D. Porcelain, Senior Vice President and
Chief Financial Officer631-962-7000info@comtechtel.com
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