FORT LAUDERDALE, Fla.,
March 26, 2019 /PRNewswire/
-- Ocean Bio-Chem, Inc. (NASDAQ: OBCI), is pleased to announce
the Board of Directors unanimously voted on March 22, 2019 to declare a special cash dividend
of $0.05 per share. The dividend is
payable April 19, 2019, to holders of
record of the Company's Common Stock on April 05, 2019.
Peter Dornau stated, "This
special cash dividend is the fifth special cash dividend
in the past six years rewarding our loyal
shareholders. We are pleased to issue the special dividend to
our shareholders as we continue to generate strong cash flow from
our operations."
About Ocean Bio-Chem, Inc.:
Ocean Bio-Chem, Inc. is
principally engaged in the manufacturing, marketing and
distribution of a broad line of appearance and maintenance products
for boats, recreational vehicles, automobiles, power sports,
outdoor power equipment and motorcycle markets under the Star
brite® StarTron® and other trademarks within the United States of America and Canada. In addition, the Company produces
private label formulations of many of its products for various
customers and provides custom blending and packaging services for
these and other products.
The Company trades publicly under NASDAQ Capital Markets, Ticker
Symbol: OBCI.
The Company's web sites are: www.oceanbiochem.com,
www.starbrite.com , www.startron.com, and www.performacide.com
Forward-looking Statements:
Certain statements contained in this Press Release, including
without limitation, our ability to provide required capital to
support inventory levels, the effect of price increases in raw
materials that are petroleum or chemical based or commodity
chemicals on our margins, and the sufficiency of funds provided
through operations and existing sources of financing to satisfy our
cash requirements constitute forward-looking statements. For
this purpose, any statements contained in this report that are not
statements of historical fact may be deemed forward-looking
statements. Without limiting the generality of the foregoing,
words such as "believe," "may," "will," "expect," "anticipate,"
"intend," or "could," including the negative or other variations
thereof or comparable terminology, are intended to identify
forward-looking statements. These statements involve known and
unknown risks, uncertainties and other factors which may cause
actual results to be materially different from those expressed or
implied by such forward-looking statements. Factors that may
affect these results include, but are not limited to, the highly
competitive nature of our industry; reliance on certain key
customers; changes in consumer demand for marine, recreational
vehicle and automotive products; advertising and promotional
efforts; exposure to market risks relating to changes in interest
rates, foreign exchange rates, prices for raw materials that are
petroleum or chemical based and other factors.
Contact:
Peter Dornau
CEO and President
pdornau@starbrite.com
954-587-6280
Jeff Barocas
Vice President & CFO
Jbarocas@starbrite.com
954-587-6280
View original
content:http://www.prnewswire.com/news-releases/ocean-bio-chem-inc-announces-special-cash-dividend-of-0-05-pershare-300818371.html
SOURCE Ocean Bio-Chem, Inc.