FT. LAUDERDALE, Fla.,
Sept. 30, 2011 /PRNewswire/ -- SMF
ENERGY CORPORATION (NASDAQ: FUEL), a leading energy logistics
company providing efficient, just in time distribution of petroleum
products and chemicals, today announced that its Board of Directors
has declared a quarterly cash dividend of $0.015 per share payable to holders of record of
the Company's common stock at the close of business on November 14, 2011, to be paid on December 2, 2011.
(Logo:
http://photos.prnewswire.com/prnh/20090513/SMFENERGYCORPLOGO
)
Richard E. Gathright, Chairman of
the Board, Chief Executive Officer and President, commented, "The
Board's decision to increase the annualized yield on its quarterly
dividend program to $0.06 per share,
a 20% increase, demonstrates its confidence in our continuing
growth and financial strength. When the dividend program was
initiated, the Board resolved to reevaluate the quarterly dividend
amount on a regular basis. Accordingly, in light of our
reported financial results for fiscal 2011, our anticipated
financial results, our cash position and the recent increase in the
market price of our common stock, the Board decided to increase the
dividend payable to shareholders on November
14, 2011. The Board will continue to monitor these and
other factors in future quarters when considering the declaration
of dividends under the program."
ABOUT SMF ENERGY CORPORATION (NASDAQ: FUEL)
The Company is a leading provider of petroleum product
distribution services, transportation logistics and emergency
response services to the trucking, manufacturing, construction,
shipping, utility, energy, chemical, telecommunications and
government services industries. The Company provides its services
and products through 34 locations in the eleven states of
Alabama, California, Florida, Georgia, Louisiana, Nevada, Mississippi, North
Carolina, South Carolina,
Tennessee and Texas. The broad range of services the Company
offers its customers includes commercial mobile and bulk fueling;
the packaging, distribution and sale of lubricants and chemicals;
integrated out-sourced fuel management; transportation logistics
and emergency response services. The Company's fleet of custom
specialized tank wagons, tractor-trailer transports, box trucks and
customized flatbed vehicles delivers diesel fuel and gasoline to
customers' locations on a regularly scheduled or as needed basis,
refueling vehicles and equipment, re-supplying fixed-site and
temporary bulk storage tanks, and emergency power generation
systems; and distributes a wide variety of specialized petroleum
products, lubricants and chemicals to our customers. More
information on the Company is available at
www.mobilefueling.com.
FORWARD LOOKING STATEMENTS
This press release includes "forward-looking statements" within
the meaning of the safe harbor provision of the Private Securities
Litigation Reform Act of 1995. For example, predictions or
statements of belief or expectation concerning the future
performance of the Company, the future trading prices of the
Company's common stock, the Company's ability to declare and pay
future dividends, and the potential for further growth of the
Company are all "forward looking statements" which should not be
relied upon. Such forward-looking statements are based on the
current beliefs of the Company and its management based on
information known to them at this time. Because these statements
depend on various assumptions as to future events, they should not
be relied on by shareholders or other persons in evaluating the
Company. Although management believes that the assumptions
reflected in such forward-looking statements are reasonable, actual
results could differ materially from those projected. In addition,
there are numerous risks and uncertainties that could cause actual
results to differ from those anticipated by the Company, including
but not limited to those cited in the "Risk Factors" section of the
Company's Form 10-K for the year ended June
30, 2011.
Contact:
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Michael S. Shore
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Chief Financial
Officer
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954-308-4200
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SOURCE SMF Energy Corporation