RCM Technologies (RCMT) Declares $2.00 Special Dividend; 25.7% Yield

RCM Technologies (NASDAQ: RCMT) declared a special dividend of $2.00 per share.

The dividend will be payable on December 30, 2014, to stockholders of record on December 26, 2014.

The annual yield on the dividend is 25.7 percent.

Rocco Campanelli, President and CEO of RCM Technologies, Inc., commented: "Based on continued operational momentum in all three business units, and an effort to work towards a more efficient long-term capital structure, the Board of Directors authorized a special dividend of $2.00 per share to be paid on or about December 30th. We are excited to culminate what we expect to be our best yearly operating income performance in the past twelve years by returning significant capital to shareholders in 2014."

Kevin Miller, Chief Financial Officer, added: "Due to the favorable cash generating characteristics of RCM's business model, the Board believes a target long-term capital structure generally in the range of 1.0x to 2.0x net debt/EBITDA will allow the Company to invest internally for profitable organic growth, consider acquisitions that are a strategic fit to RCM's core business, and, when appropriate, return capital to shareholders as part of comprehensive capital allocation framework that is reviewed quarterly by the Board. The Company recently expanded its credit facility to $35.0 million to accommodate the short-term cash flow requirements associated with this special dividend. Approximately $0.40 per share of the special dividend will receive the tax advantageous characterization of return of capital to shareholders."

For a dividend history and other dividend-related data on RCM Technologies (RCMT) click here.

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