Reinhold Industries, Inc. Announces Special Cash Dividend
December 08 2004 - 12:19PM
PR Newswire (US)
Reinhold Industries, Inc. Announces Special Cash Dividend SANTA FE
SPRINGS, Calif., Dec. 8 /PRNewswire-FirstCall/ -- Reinhold
Industries, Inc. (NASDAQ:RNHDA) announced today that its Board of
Directors has declared a special cash dividend on shares of its
Class A common stock. The cash dividend of $11.75 per share is
payable on December 28, 2004, to all stockholders of record as of
the close of business on December 17, 2004. As of December 3, 2004,
approximately 3,251,222 Class A shares were issued and outstanding.
The Company will pay the dividend from its cash on hand and from a
new credit facility of approximately $36.5 Million. Reinhold
Chairman Roy Whitney stated that the "Company believes capital
should be returned to stockholders in the form of the special
dividend to provide liquidity with respect to their shares." Mr.
Whitney also indicated that, based on the Company's current
projections of 2005 results, the Company intends to continue to pay
regular cash dividends of 50 cents per share per quarter in 2005.
However, payment of dividends in 2005 depends on the Company
performing at the level currently anticipated. Reinhold Industries,
Inc. is a manufacturer of advanced custom composite components and
sheet molding compounds in the United States and Europe. SPECIAL
NOTE REGARDING FORWARD-LOOKING STATEMENTS To the extent the Company
makes certain "forward-looking statements" in this press release,
such as statements about future plans, goals and other events which
have not yet occurred, such statements are intended to qualify for
the safe harbors from liability provided by the Private Securities
Litigation Reform Act of 1995. Forward-looking statements can
generally be identified because they include words such as the
Company "believes," "anticipates," "expects" or words of similar
import. These forward-looking statements involve risks and
uncertainties and the actual results could differ materially from
those discussed in the forward-looking statements. These risks and
uncertainties include, without limitation, risks associated with
levels of U.S. and foreign military spending, currency
fluctuations, completion of the Company's intended sale of its
Bingham business unit and the financial condition of the airline
industry. You should consider these risks and factors and the
impact they may have when you evaluate these forward- looking
statements. These statements are based only on the Company's
knowledge and expectations on the date of this press release. The
Company disclaims any duty to update these statements or other
information in this press release based on future events or
circumstances. DATASOURCE: Reinhold Industries, Inc. CONTACT: Judy
Sanson of Reinhold Industries, Inc., +1-562-944-3281, or fax,
+1-562-944-7238
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