Espey Manufacturing (ESP) Declares $0.25 Quarterly Dividend; CEO St. Pierre Resigns

Espey Manufacturing & Electronics Corp. (NYSE: ESP) declared a quarterly dividend of $0.25 per share, or $1 annualized.

The dividend will be payable on June 27, 2014, to stockholders of record on June 16, 2014, with an ex-dividend date of June 12, 2014.

The annual yield on the dividend is 3.9 percent.

The Board of Directors of Espey Mfg. & Electronics Corp. also announced that by mutual agreement with the Board of Directors, Mark St. Pierre has resigned as President, Chief Executive Officer and a director of the company. This resignation will be effective on June 27, 2014.

The company also announces that David O'Neil, currently Chief Financial Officer, has been appointed as Interim President and Chief Executive Officer, and that Katrina Sparano, currently Assistant Treasurer and Principal Accounting Officer, has been appointed as Interim Principal Financial Officer. The Board of Directors has commenced the process for the identification of a permanent successor to Mr. St. Pierre.

Mr. St. Pierre has served as the company's President since 2009 and as President and Chief Executive Officer since 2010.

For a dividend history and other dividend-related data on Espey Manufacturing & Electronics Corp. (ESP) click here.

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