Synagro Announces Cash Dividend on Common Stock
January 30 2007 - 1:21PM
Business Wire
Synagro Technologies, Inc. (NASDAQ Global Market:SYGR), ("the
Company") announced today that its Board of Directors has declared
a cash dividend of $0.10 per common share to all of its
shareholders of record as of February 12, 2007. The dividend is
payable on February 28, 2007. Synagro Technologies, Inc. believes
that it is the largest recycler of biosolids and other organic
residuals in the United States and it believes that it is the only
national company focused exclusively on the estimated $8 billion
organic residuals industry, which includes water and wastewater
residuals. The Company serves approximately 600 municipal and
industrial water and wastewater treatment accounts with operations
in 37 states and the District of Columbia. The Company offers a
broad range of water and wastewater residuals management services
focusing on the beneficial reuse of organic, nonhazardous residuals
resulting from the wastewater treatment process, including drying
and pelletization, composting, product marketing, incineration,
alkaline stabilization, land application, collection and
transportation, regulatory compliance, dewatering, and facility
cleanout services. Safe Harbor Statement This press release
contains certain forward-looking statements, within the meaning of
the Private Securities Litigation Reform Act of 1995, which involve
known and unknown risks, uncertainties or other factors not under
Synagro's control which may cause the actual results, performance
or achievement of Synagro to be materially different from the
results, performance or other expectations implied by these
forward-looking statements. These factors include, but are not
limited to: the risk that our stockholders may not receive the
level of dividends provided for in the dividend policy adopted by
our board or any dividends at all; unseasonable weather; changes in
government regulations; the ability to find, timely close, and
integrate acquisitions; changes in federal wastewater treatment and
biosolid regulation; our ability to comply with federal, state and
local environmental regulations or to maintain and obtain necessary
permits; competition in the wastewater residuals management
business; the risk of early termination of customer contracts; loss
of significant customers; our level of debt and our ability to
service our debt; our ability to obtain additional financing; our
ability to maintain sufficient insurance; and the effect of the
restrictions in our senior secured credit agreement on our
operation. Other factors are discussed in Synagro's periodic
filings with the Securities and Exchange Commission.
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