Aldila (ALDA) Declares a $5.00 per Share Special Cash Dividend & Signs Credit Facility for up to $15 Million
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Aldila (NASDAQ: ALDA) announced that its Board has declared a special cash dividend of $5.00 per share to be paid on March 10, 2008 to shareholders of record as of February 25, 2008. The Company also announced today that it has signed a credit facility with Key Bank National Association. Aldila plans to use borrowings from the credit facility, plus funds on hand from its previously announced sale of its 50% interest in Carbon Fiber Technology LLC, to pay this special dividend and provide future working capital coverage when and if needed.
Since May of 2004 Aldila has declared approximately $46.2 million in dividends, including the special dividend announced today and special dividends of $1.00 per share paid on June 21, 2005 and December 16, 2005.
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