Virco Declares Quarterly Cash Dividend of $.015 per Share
June 22 2018 - 4:02PM
Virco Mfg. Corporation (NASDAQ:VIRC) today announced a quarterly
cash dividend of $0.015 per share of common stock, payable July 10,
2018 to shareholders of record as of June 26, 2018.
Robert A. Virtue, Chairman and CEO, said: “I’m pleased to report
that Virco shareholders will again receive a quarterly cash
dividend, reflecting our stronger financial condition and favorable
prospects for our market. We have always strived to provide
our shareholders with a balanced set of returns consisting of share
price appreciation, regular cash dividends, and opportunistic
repurchases.” This is Virco’s third consecutive quarterly
cash dividend since the Company resumed payment of quarterly
dividends in the fourth quarter of fiscal year ended January 31,
2018.
Contact: Robert A. Virtue, CEO Douglas A. Virtue, President
Robert E. Dose, Chief Financial Officer Virco Mfg. Corporation
(310) 533-0474
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: our financial condition and financial
position, prospects for our market, and shareholder returns,
including share price appreciation, cash dividends and stock
repurchases. 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 that are anticipated.
Such factors include, but are not limited to: changes in general
economic conditions including raw material, energy and freight
costs; state and municipal bond funding; state, local, and
municipal tax receipts; order rates; 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; the impact of cost-saving initiatives on our business;
the competitive landscape, including responses of our competitors
and customers to changes in our prices; demographics; and the terms
and conditions of available funding sources. See our Annual
Report on Form 10-K for the year ended January 31, 2018 and other
material 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.
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