Virco Announces Cash Dividend
February 16 2011 - 2:24PM
Virco Mfg. Corporation (Nasdaq:VIRC) announced the declaration of a
quarterly cash dividend in the following statement from Robert A.
Virtue, President and CEO:
I am pleased to announce that Virco's Board of Directors has
declared a regular quarterly dividend of $0.025 per share payable
March 18, 2011, to stockholders of record on March 4, 2011. As
always, payment of a quarterly dividend is predicated on 1) the
strength of our balance sheet; 2) anticipated cash flows; and 3)
future cash requirements. Subsequent quarterly dividends will
continue to be paid following a review of these factors and Board
approval.
The Virco Mfg. Corporation Logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=521
This news release contains "forward-looking statements" as
defined by the Private Securities Litigation Reform Act of
1995. These statements include, but are not limited to,
statements regarding: new business strategies; the cost and
availability of steel and other raw materials; the costs of
utilities and freight; the continuing impact of our
Assemble-to-Ship and Equipment for Educators™ programs on earnings;
market demand and acceptance of new products; development of new
distribution channels; pricing; and
seasonality. Forward-looking statements are based on current
expectations and beliefs about future events or circumstances, and
you should not place undue reliance on these statements. Such
statements involve known and unknown risks, uncertainties,
assumptions and other factors, many of which are out of our control
and difficult to forecast. These factors may cause actual
results to differ materially from those which are
anticipated. Such factors include, but are not limited to:
changes in general economic conditions including raw material,
energy and freight costs; the seasonality of our markets; the
markets for school and office furniture generally; the specific
markets and customers with which we conduct our principal business;
and the response of competitors to our price increases. See
our Annual Report on Form 10-K for the year ended January 31, 2010,
and other materials filed with the Securities and Exchange
Commission for a further description of these and other risks and
uncertainties applicable to our business. We assume no, and
hereby disclaim any, obligation to update any of our
forward-looking statements. We nonetheless reserve the right
to make such updates from time to time by press release, periodic
reports or other methods of public disclosure without the need for
specific reference to this press release. No such update shall
be deemed to indicate that other statements which are not addressed
by such an update remain correct or create an obligation to provide
any other updates.
CONTACT: Robert A. Virtue, President
Douglas A. Virtue, Executive Vice President
Robert E. Dose, Chief Financial Officer
Virco Mfg. Corporation
(310) 533-0474
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