Smith-Midland Corporation (SMID) Declares $0.01 Special Dividend; 0.2% Yield

Smith-Midland Corporation (: SMID) declared a special dividend of $0.01 per share.

The dividend will be payable on January 13, 2017, to stockholders of record on December 30, 2016, with an ex-dividend date of December 28, 2016.

The annual yield on the dividend is 0.2 percent.

While the special dividend is less than the dividends of the last four years, Smith-Midland Corporation is in the process of evaluating its current requirements for purchasing new machinery, equipment and its need for additional physical facilities. Smith-Midland must be ready to meet the demands of the rapidly expanding need for highway infrastructure precast concrete products, i.e. Sierra soundwall and J-J Hooks concrete safety barrier in its geographical sales areas. Smith-Midland plans to preserve the majority of its cash balances in anticipation of capital purchases over the next 12 to 18 months.

For a dividend history and other dividend-related data on Smith-midland Corporation (SMID) click here.

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