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Frequency Electronics, Inc. Declares Special Cash Dividend of $1.00 Per Share

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Frequency Electronics, Inc. (NASDAQ: FEIM) has declared a special cash dividend of $1.00 per share of common stock, payable on August 29, 2024, to stockholders of record as of August 8, 2024. The total dividend payment will be approximately $9.4 million. CEO Tom McClelland highlighted the company's improved profitability and cash generation, allowing for this dividend while maintaining investment capacity. FEI remains debt-free and focuses on sustained profitability. The company specializes in high-precision timing, frequency generation, and RF control products for space and terrestrial applications, serving commercial, government, and military systems.

Frequency Electronics, Inc. (NASDAQ: FEIM) ha dichiarato un dividendo speciale in contante di 1,00 $ per azione di azioni ordinarie, che sarà pagato il 29 agosto 2024, agli azionisti registrati al 8 agosto 2024. Il pagamento totale del dividendo sarà di circa 9,4 milioni di dollari. Il CEO Tom McClelland ha sottolineato il miglioramento della redditività e della generazione di cassa dell'azienda, che ha reso possibile questo dividendo mantenendo al contempo la capacità di investimento. FEI rimane senza debiti e si concentra su una redditività sostenuta. L'azienda è specializzata in temporizzazione ad alta precisione, generazione di frequenza e prodotti di controllo RF per applicazioni spaziali e terrestri, servendo sistemi commerciali, governativi e militari.

Frequency Electronics, Inc. (NASDAQ: FEIM) ha declarado un dividendo especial en efectivo de 1.00 $ por acción de acciones ordinarias, que se pagará el 29 de agosto de 2024, a los accionistas registrados hasta el 8 de agosto de 2024. El pago total de dividendos será de aproximadamente 9.4 millones de dólares. El CEO Tom McClelland destacó la mejora en la rentabilidad y generación de efectivo de la empresa, lo que permite este dividendo mientras se mantiene la capacidad de inversión. FEI sigue estando libre de deudas y se centra en la rentabilidad sostenible. La empresa se especializa en temporización de alta precisión, generación de frecuencia y productos de control RF para aplicaciones espaciales y terrestres, sirviendo a sistemas comerciales, gubernamentales y militares.

Frequency Electronics, Inc. (NASDAQ: FEIM)는 주당 1.00 달러특별 현금 배당금을 선언하였으며, 이는 2024년 8월 29일에 지급됩니다. 배당금 지급 대상자는 2024년 8월 8일 기준 주주입니다. 총 배당금 지급액은 약 940만 달러에 이를 것입니다. CEO 톰 맥클렐란은 회사의 수익성 향상과 현금 창출이 이번 배당금을 가능하게 했으며, 투자 능력도 유지하고 있다고 강조했습니다. FEI는 무부채 상태를 유지하며 지속 가능한 수익성에 집중하고 있습니다. 이 회사는 우주 및 지상 응용을 위한 고정밀 타이밍, 주파수 생성 및 RF 제어 제품을 전문으로 하며, 상업적, 정부 및 군사 시스템에 서비스를 제공합니다.

Frequency Electronics, Inc. (NASDAQ: FEIM) a déclaré un dividende spécial en espèces de 1,00 $ par action d'actions ordinaires, qui sera payable le 29 août 2024 aux actionnaires inscrits au 8 août 2024. Le montant total du dividende sera d'environ 9,4 millions de dollars. Le PDG Tom McClelland a souligné l'amélioration de la rentabilité et de la génération de liquidités de l'entreprise, ce qui permet ce dividende tout en maintenant la capacité d'investissement. FEI reste sans dettes et se concentre sur une rentabilité durable. L'entreprise se spécialise dans les produits de chronométrage de haute précision, de génération de fréquence et de contrôle RF pour les applications spatiales et terrestres, servant des systèmes commerciaux, gouvernementaux et militaires.

Frequency Electronics, Inc. (NASDAQ: FEIM) hat eine sonstige Barauszahlung von 1,00 $ pro Aktie der Stammaktien erklärt, die am 29. August 2024 an Aktionäre, die am 8. August 2024 im Aktienregister stehen, ausgezahlt wird. Die gesamte Dividendenzahlung wird voraussichtlich etwa 9,4 Millionen Dollar betragen. CEO Tom McClelland hob die verbesserte Rentabilität und die Cash-Generierung des Unternehmens hervor, die diese Dividende ermöglichen, während die Investitionskapazität erhalten bleibt. FEI bleibt schuldentfrei und konzentriert sich auf nachhaltige Rentabilität. Das Unternehmen ist auf hochpräzise Zeitmessung, Frequenzgenerierung und RF-Steuerprodukte für Anwendungen im Weltraum und an Land spezialisiert und bedient kommerzielle, staatliche und militärische Systeme.

Positive
  • Declaration of a $1.00 per share special cash dividend
  • Improved profitability and cash generation
  • Debt-free status maintained after dividend payment
  • Growth in revenue, backlog, and positioning on critical next-generation platforms
  • Strong balance sheet allowing for dividend payment and future business investment
Negative
  • None.

MITCHEL FIELD, N.Y., July 22, 2024 (GLOBE NEWSWIRE) -- Today the Board of Directors of Frequency Electronics, Inc. (“FEI” or the “Company”) (NASDAQ-FEIM) declared a special cash dividend of $1.00 per share of common stock. The special dividend is payable on August 29, 2024, to stockholders of record as of the close of business on August 8, 2024. Based on the current number of shares outstanding, the total amount of the special dividend payment will be approximately $9.4 million.

FEI President and CEO, Tom McClelland commented, “Today our Board of Directors declared a $1.00 per share special cash dividend. Since we paid our previous special dividend 18 months ago, we have continued to improve the profitability and cash generation of the Company, allowing us to once again return cash to stockholders. Our strong balance sheet allows us to pay this dividend while maintaining our ability to invest in the business for future success, and our growth in revenue, backlog and positioning on critical next-generation platforms has demonstrated that we can both profitably grow the business and return capital to stockholders as we do so. After paying this dividend we will remain debt free, and our focus on sustained profitability and cash generation should help us maintain a strong balance sheet in the future.”

About Frequency Electronics
Frequency Electronics, Inc. (FEI) is a world leader in the design, development and manufacture of high precision timing, frequency generation and RF control products for space and terrestrial applications. FEI’s products are used in satellite payloads and in other commercial, government and military systems including C4ISR and electronic warfare, missiles, UAVs, aircraft, GPS, secure communications, energy exploration and wireline and wireless networks. FEI-Zyfer provides GPS and secure timing capabilities for critical military and commercial applications; FEI-Elcom Tech provides Electronic Warfare (“EW”) sub-systems and state-of-the-art RF and microwave products. FEI has received over 100 awards of excellence for achievements in providing high performance electronic assemblies for over 150 space and DOD programs. The Company invests significant resources in research and development to expand its capabilities and markets.
www.frequencyelectronics.com

FEI’s Mission Statement: “Our mission is to transform discoveries and demonstrations made in research laboratories into practical, real-world products. We are proud of a legacy which has delivered precision time and frequency generation products, for space and other world-changing applications that are unavailable from any other source. We aim to continue that legacy while adapting our products and expertise to the needs of the future. With a relentless emphasis on excellence in everything we do, we aim, in these ways, to create value for our customers, employees, and stockholders.”

Forward-Looking Statements

The statements in this press release regarding future earnings and operations and other statements relating to the future constitute “forward-looking” statements pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, our inability to integrate operations and personnel, actions by significant customers or competitors, general domestic and international economic conditions, reliance on key customers, continued acceptance of the Company’s products in the marketplace, competitive factors, new products and technological changes, product prices and raw material costs, dependence upon third-party vendors, other supply chain related issues, increasing costs for materials, operating related expenses, competitive developments, changes in manufacturing and transportation costs, the availability of capital, the outcome of any litigation and arbitration proceedings, and failure to maintain an effective system of internal controls over financial reporting. The factors listed above are not exhaustive and should be read in conjunction with the other cautionary statements that are included in this release and in our filings with the Securities and Exchange Commission. The Company’s Annual Report on Form 10-K for the fiscal year ended April 30, 2023, filed on July 27, 2023 with the Securities and Exchange Commission includes additional factors that could materially and adversely impact the Company’s business, financial condition and results of operations, as such factors are updated from time to time in our periodic filings with the Securities and Exchange Commission, which are accessible on the Securities and Exchange Commission’s website at www.sec.gov. Moreover, the Company operates in a very competitive and rapidly changing environment. New factors emerge from time to time and it is not possible for management to predict the impact of all these factors on the Company’s business, financial condition or results of operations or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. Given these risks and uncertainties, investors should not rely on forward-looking statements as a prediction of actual results. Any or all of the forward-looking statements contained in this press release and any other public statement made by the Company or its management may turn out to be incorrect. The Company expressly disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Contact information:   Dr. Thomas McClelland, President and Chief Executive Officer;
  Steven Bernstein, Chief Financial Officer;
      
TELEPHONE: (516) 794-4500 ext.5000WEBSITE: www.freqelec.com
      

FAQ

When will Frequency Electronics (FEIM) pay its special cash dividend?

Frequency Electronics (FEIM) will pay its special cash dividend of $1.00 per share on August 29, 2024.

What is the record date for Frequency Electronics' (FEIM) special dividend?

The record date for Frequency Electronics' (FEIM) special dividend is August 8, 2024, at the close of business.

How much is the total special dividend payment for Frequency Electronics (FEIM)?

Based on the current number of shares outstanding, the total special dividend payment for Frequency Electronics (FEIM) will be approximately $9.4 million.

How has Frequency Electronics' (FEIM) financial performance improved since its last special dividend?

Since its last special dividend 18 months ago, Frequency Electronics (FEIM) has improved its profitability and cash generation, allowing for this new dividend while maintaining investment capacity for future growth.

Frequency Electronics, Inc.

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Communication Equipment
Instruments for Meas & Testing of Electricity & Elec Signals
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United States of America
MITCHEL FIELD