EXTON, PA — Omega Flex, Inc. (NASDAQ: OFLX) announced that the Board of Directors declared a special dividend of $3.50 per share payable on December 30, 2019 to shareholders of record on December 26, 2019.
According to a company statement, “The Board of Directors has reviewed the anticipated cash needs of the Corporation, and determined that the Corporation has cash and cash equivalents on-hand in excess of the amount necessary to meet the obligations incurred in its operations, fund capital expenditures, and fulfill its corporate objectives, as well as access to an existing revolving line of credit. The Board of Directors takes seriously its responsibility to the Corporation’s shareholders, and given that the Corporation maintains excess cash and cash equivalent assets, the Corporation will return those assets to the shareholders through a special dividend of $3.50 per share.”
Source: Omega Flex Inc., 451 Creamery Way, Exton PA 19341
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