Loading, Please Wait...
BROOMFIELD, Colo., Sept. 04, 2019 (GLOBE NEWSWIRE) -- DMC Global Inc. (Nasdaq: BOOM) today announced it has increased its annual cash dividend to $0.50 per share from $0.08 per share. The dividend will be paid quarterly at a rate of $0.125 per share, with the next payment scheduled for October 15, 2019, to shareholders of record as of September 30, 2019.
The increase more than restores a $0.16 annual dividend that was reduced in 2015 following the downturn in the oil and gas industry.
“Our dividend increase is made possible by strong financial performance, a solid balance sheet, and confidence in the long-term strength of our markets and growth opportunities,” said Kevin Longe, president and CEO. “DMC’s purpose is to create superior value for its customers, employees, and shareholders. We believe our shareholders benefit most when we pursue growth objectives and share price appreciation while maintaining a conservative capital structure and the discipline of returning capital through dividends.”
DMC Global is a diversified holding company. Our innovative businesses provide differentiated products and services to niche industrial and commercial markets around the world. DMC’s objective is to identify well-run businesses and strong management teams and support them with long-term capital and strategic, legal, technology and operating resources. Our approach helps our portfolio companies grow core businesses, launch new initiatives, upgrade technologies and systems to support their long-term strategy, and make acquisitions that improve their competitive positions and expand their markets. DMC’s culture is to foster local innovation versus centralized control, and stand behind our businesses in ways that truly add value. Today, DMC’s portfolio consists of DynaEnergetics and NobelClad, which collectively address the energy, industrial processing and transportation markets. Based in Broomfield, Colorado, DMC trades on Nasdaq under the symbol “BOOM.” For more information, visit the Company’s website at: http://www.dmcglobal.com.
Vice President of Investor Relations