Northern Technologies International Corporation Initiates $0.10 per Share Quarterly Cash Dividend
November 20 2017 - 8:05AM
Northern Technologies International Corporation (NASDAQ:NTIC), a
leading developer of corrosion inhibiting products and services, as
well as bio-based and biodegradable polymer resin compounds, today
announced that the Board of Directors initiated a quarterly cash
dividend of $0.10 per share payable on December 21, 2017 to
shareholders of record on December 8, 2017.
“It is my pleasure to announce NTIC’s Board of Directors has
decided to initiate a $0.10 quarterly cash dividend as a result of
the Company’s strong fourth quarter financial results and favorable
business outlook,” said G. Patrick Lynch, President and Chief
Executive Officer of NTIC. “The quarterly cash dividend not only
benefits existing stockholders, but will also increase NTIC’s
exposure to additional investors. We are committed to creating
long-term value for our shareholders, and we believe we have a
sustainable platform to drive sales and earnings growth in fiscal
2018 and beyond.”
About Northern Technologies International
Corporation
Northern Technologies International Corporation develops and
markets proprietary environmentally beneficial products and
services in over 60 countries either directly or via a network of
subsidiaries, joint ventures, independent distributors and agents.
NTIC’s primary business is corrosion prevention marketed primarily
under the ZERUST® brand. NTIC has been selling its proprietary
ZERUST® rust and corrosion inhibiting products and services to the
automotive, electronics, electrical, mechanical, military and
retail consumer markets, for over 40 years, and in recent years has
targeted and expanded into the oil and gas industry. NTIC offers
worldwide on-site technical consulting for rust and corrosion
prevention issues. NTIC’s technical service consultants work
directly with the end users of NTIC’s products to analyze their
specific needs and develop systems to meet their technical
requirements. NTIC also markets and sells a portfolio of bio-based
and biodegradable polymer resins and finished products marketed
under the Natur-Tec® brand.
Forward-Looking Statements
Statements contained in this release that are not historical
information are forward-looking statements as defined within the
Private Securities Litigation Reform Act of 1995. Such statements
include NTIC’s expectations regarding its anticipated future
dividends, the effect of the dividend to increase exposure to
additional investors and anticipated sales and earnings growth for
fiscal 2018 and beyond, and other statements that can be identified
by words such as “expects,” “anticipates,” “potential,” “outlook,”
“will,” or words of similar meaning, the use of future dates and
any other statements that are not historical facts. Such
forward-looking statements are based upon the current beliefs and
expectations of NTIC’s management and are inherently subject to
risks and uncertainties that could cause actual results to differ
materially from those projected or implied. Such potential risks
and uncertainties include, but are not limited to, in no particular
order: the ability of NTIC to achieve its annual financial guidance
and continue to pay dividends; NTIC’s dependence on the success of
its joint ventures and fees and dividend distributions that NTIC
receives from them; NTIC’s relationships with its joint ventures
and its ability to maintain those relationships; NTIC’s dependence
on its joint venture in Germany in particular due to its
significance and the effect of a termination of this or its other
joint ventures on NTIC’s business and operating results; the effect
on NTIC’s business and operating results of the termination of
NTIC’s joint venture relationship in China and sale of products and
services in China through NTIC China; the ability of NTIC China to
achieve significant sales; costs and expenses incurred by NTIC in
connection with its ongoing litigation against its former Chinese
joint venture partner; risks related to the possible exit of the
United Kingdom from the European Union, economic slowdown and
political unrest; risks associated with NTIC’s international
operations; exposure to fluctuations in foreign currency exchange
rates, including in particular the Euro compared to the U.S.
dollar; the health of the U.S. and worldwide economies, including
in particular the U.S. automotive industry; the level of growth in
NTIC’s markets; NTIC’s investments in research and development
efforts; acceptance of existing and new products; timing of NTIC’s
receipt of purchase orders under supply contracts; variability in
sales to customers in the oil and gas industry and the effect on
NTIC’s quarterly financial results; increased competition; the
costs and effects of complying with changes in tax, fiscal,
government and other regulatory policies, including rules relating
to environmental, health and safety matters; pending and potential
litigation; and NTIC’s reliance on its intellectual property rights
and the absence of infringement of the intellectual property rights
of others. More detailed information on these and additional
factors which could affect NTIC’s operating and financial results
is described in the company’s filings with the Securities and
Exchange Commission, including its most recent annual report on
Form 10-K for the fiscal year ended August 31, 2017 to be filed
with the SEC. NTIC urges all interested parties to read these
reports to gain a better understanding of the many business and
other risks that the company faces. Additionally, NTIC undertakes
no obligation to publicly release the results of any revisions to
these forward-looking statements, which may be made to reflect
events or circumstances occurring after the date hereof or to
reflect the occurrence of unanticipated events.
Investor and Media Contacts: Matthew Wolsfeld,
CFO NTIC (763) 225-6600
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