PORT WASHINGTON, N.Y.,
Dec. 26, 2017 /PRNewswire/ --
Systemax Inc. (NYSE: SYX) announced today that its Board of
Directors has declared a special one-time cash dividend of
$1.50 per share to shareholders of
the company's common stock. The dividend will be payable on
January 12, 2018 to shareholders of
record as of the close of business on January 5, 2018.
Richard Leeds, Executive
Chairman, said, "We are pleased to return capital to shareholders
through this special dividend, which reflects the exceptional
performance of our businesses as well as the strength of our
balance sheet. As we enter 2018, we will maintain our strong
balance sheet, and remain well positioned to execute on our
business plan, invest in our growth opportunities, and explore
strategic M&A."
About Systemax Inc.
Systemax Inc. (www.systemax.com)
is a provider of industrial products in North America and technology products in
France, going to market through a
system of branded e-Commerce websites and relationship marketers.
The primary brands are Global Industrial and Inmac Wstore.
Forward-Looking Statements
This press release
contains forward looking statements within the meaning of that term
in the Private Securities Litigation Reform Act of 1995
(Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934).
Additional written or oral forward-looking statements may be made
by the Company from time to time in filings with the Securities and
Exchange Commission or otherwise. Statements contained in
this press release that are not historical facts are forward
looking statements made pursuant to the safe harbor provisions of
the Private Securities Litigation Reform Act of 1995, and are based
on management's estimates, assumptions and projections and are not
guarantees of future performance. The Company assumes no
obligation to update these statements. Forward looking statements
may include, but are not limited to, projections or estimates of
revenue, income or loss, exit costs, cash flow needs and capital
expenditures, statements regarding future operations, expansion or
restructuring plans, including our exit from and winding down of
our NATG and European operations, financing needs, compliance with
financial covenants in loan agreements, plans relating to products
or services of the Company, assessments of materiality, predictions
of future events and the effects of pending and possible
litigation, as well as assumptions relating to the foregoing. In
addition, when used in this release, the words "anticipates,"
"believes," "estimates," "expects," "intends," and "plans" and
variations thereof and similar expressions are intended to identify
forward looking statements.
Other factors that may affect our future results of
operations and financial condition include, but are not limited to,
unanticipated developments in any one or more of the following
areas, as well as other factors which may be detailed from time to
time in our Securities and Exchange Commission filings: risks
involved with e-commerce, including possible loss of business and
customer dissatisfaction if outages or other computer-related
problems should preclude customer access to our products and
services; the Company's management information systems and other
technology platforms supporting our sales, procurement and other
operations are critical to our operations and disruptions or delays
have occurred and could occur in the future, and if not timely
addressed would have a material adverse effect on us; general
economic conditions, will continue to impact our business; sales
tax laws or government enforcement priorities may be changed which
could result in ecommerce and direct mail retailers having to
collect sales taxes in states where the current laws and
interpretations do not require us to do so; our international
operations are subject to risks such as fluctuations in currency
rates, foreign regulatory requirements, and political uncertainty;
and managing various inventory risks, such as being unable to
profitably resell excess or obsolete inventory and/or the loss of
product return rights and price protection from our
vendors.
Investor/Media Contacts:
Mike
Smargiassi
Brainerd Communicators
212-986-6667
smarg@braincomm.com
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SOURCE Systemax Inc.