ClearOne (CLRO) Declares $0.10 Annual Dividend; 1.1% Yield

ClearOne (NASDAQ: CLRO) declared an annual dividend of $0.10 per share, or $0.1 annualized.

The dividend will be payable on January 5, 2015, to stockholders of record on December 12, 2014, with an ex-dividend date of December 10, 2014.

The annual yield on the dividend is 1.1 percent.

The company also said that the Board has approved a plan to initiate the payment of a regular quarterly cash dividend beginning in the first quarter of 2015 and discontinued the stock repurchase program. To date, the company has repurchased $5.4 million of the $10 million originally allocated for the program.

"Our strong financial position allows us to continue to invest in organic growth projects and pursue acquisitions, while also returning a portion of our free cash flow directly to our shareholders," said Zee Hakimoglu, President and Chief Executive Officer of ClearOne. "We believe these actions reflect our confidence in the long-term value of ClearOne's market position and financial performance."

The company expects that it will maintain a program of paying dividends on a quarterly basis; however, the declaration of dividends in the future is subject to the discretion of the ClearOne Board of Directors, which will evaluate the company's dividend program from time-to-time based on factors that the Board of Directors deem relevant.

For a dividend history and other dividend-related data on ClearOne (CLRO) click here.

You May Also Be Interested In

• Winnebago Industries (WGO) Raises Quarterly Dividend 2.9% to $0.36; 4.4% Yield
• Carpenter Technology adds $1B share buyback after exhausting prior $400M plan
• Kontoor Brands raises full-year outlook, plans $400M share buyback