Comtech Telecommunications Corp. Declares $0.10 Per Share Quarterly Cash Dividend
MELVILLE, N.Y.--(BUSINESS WIRE)--
December 7, 2016-- Comtech Telecommunications Corp. (NASDAQ:CMTL)
announced today that its Board of Directors completed its previously
announced assessment of capital needs and dividends and declared a
quarterly cash dividend of $0.10 per share, payable on February 17,
2017, to shareholders of record at the close of business on January 18,
2017. The dividend is the Company's twenty-sixth consecutive quarterly
dividend. The Board is currently targeting that future quarterly
dividends for fiscal 2017 will be $0.10 per common share. Future
dividends remain subject to compliance with financial covenants under
the Company's Secured Credit Facility as well as Board approval.
Comtech Telecommunications Corp. designs, develops, produces and markets
innovative products, systems and services for advanced communications
solutions. The Company sells products to a diverse customer base in the
global commercial and government communications markets.
Certain information in this press release contains statements that are
forward-looking in nature and involve certain significant risks and
uncertainties. Actual results could differ materially from such
forward-looking information. The Company's Securities and Exchange
Commission filings identify many such risks and uncertainties. Any
forward-looking information in this press release is qualified in its
entirety by the risks and uncertainties described in such Securities and
Exchange Commission filings.
View source version on businesswire.com: http://www.businesswire.com/news/home/20161207006289/en/
Michael D. Porcelain, Senior Vice President and Chief
Source: Comtech Telecommunications Corp.
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