Richardson Electronics (RELL) Declares $0.06 Quarterly Dividend; 3.5% Yield
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Richardson Electronics Reports First Quarter Fiscal 2017 Results and Declares Quarterly Cash Dividend
October 5, 2016 4:57 PM EDTLAFOX, Ill.--(BUSINESS WIRE)-- Richardson Electronics, Ltd. (NASDAQ: RELL) today reported financial results for its first quarter ended August 27, 2016. The Company also announced that its Board of Directors declared a $0.06 per share quarterly cash dividend.
First Quarter Results
Net sales for the first quarter of fiscal 2017 were $33.4 million, a 10.0% decrease, compared to net sales of $37.1 million in the prior years first quarter. Sales decreases of $1.8 million for PMT and $2.1 million for Canvys, primarily due to declines in demand from key OEMs relating to market conditions, were partially... More
