Dynamic Materials (BOOM) Halves Qtr. Dividend to 2c/Share; Yields 1.3%
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Dynamic Materials Declares Quarterly Cash Dividend
December 18, 2015 7:45 AM ESTBOULDER, CO -- (Marketwired) -- 12/18/15 -- Dynamic Materials Corporation (DMC) (NASDAQ: BOOM), today announced its board of directors has declared a quarterly cash dividend of $0.02 per share. The dividend is payable on January 15, 2016, to shareholders of record as of December 31,... More
Dynamic Materials Announces Amendments to Credit Agreement; Implements Temporary Reduction in Quarterly Dividend to Preserve Capital During Industry Downturn
December 18, 2015 7:30 AM ESTBOULDER, CO -- (Marketwired) -- 12/18/15 -- Dynamic Materials Corporation (DMC) (NASDAQ: BOOM), today announced it has amended its current credit agreement with its commercial lenders, and separately, has implemented a temporary reduction in its quarterly dividend. The amended agreement temporarily modifies certain financial covenants and will provide the Company with greater financial flexibility as it navigates the steep downturn in the global oil and gas industry. Key components of the revised agreement include:
An immediate increase in the maximum debt-to-EBITDA leverage ratio from 3.00x to 3.75x, which will remain in effect through the June... More