Comtech Telecommunications Corp. Declares $0.30 Per Share Quarterly Cash Dividend
October 6, 2016 at 5:31 PM EDT
MELVILLE, N.Y.--(BUSINESS WIRE)--
October 6, 2016--Comtech Telecommunications Corp. (NASDAQ:CMTL)
announced today that its Board of Directors declared a quarterly cash
dividend of $0.30 per share, payable on November 22, 2016, to
shareholders of record at the close of business on October 21, 2016. The
dividend is the Company's twenty-fifth consecutive quarterly dividend.
The Board of Directors is currently targeting fiscal 2017 dividend
payments aggregating $1.20 per share while at the same time, during the
first quarter of fiscal 2017, the Board began further assessing the
Company's capital needs generally and the appropriate level of future
dividends. Future dividends also 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.