NN, Inc. Board Announces Reinstatement of Dividend
June 11 2013 - 8:00AM
PR Newswire (US)
JOHNSON CITY, Tenn.,
June 11, 2013 /PRNewswire/
-- NN, Inc. (Nasdaq: NNBR) announced that earlier today its
Board of Directors declared a quarterly cash dividend of
$0.06 per common share. The dividend
will be paid on July 9, 2013, to
shareholders of record as of the close of business on June 25, 2013.
"The reinstatement of a quarterly cash dividend is the product
of our strong cash flow and debt retirement performance over the
last three years which has significantly strengthened our balance
sheet," said Mr. Rich Holder,
President and Chief Executive Officer. "This provides us with
the ability and the opportunity to fund key strategic organic and
acquisitive growth initiatives as well as return value to our
shareholders in the form of cash dividends. Subject to
declaration by the Board of Directors, we plan to continue to pay
quarterly dividends at a rate that provides a meaningful return to
our shareholders."
NN, Inc. manufactures and supplies high precision metal bearing
components, industrial plastic and rubber products and precision
metal components to a variety of markets on a global basis.
Headquartered in Johnson City,
Tennessee, NN has 10 manufacturing plants in the United States, Western Europe, Eastern Europe and China. NN, Inc. had
sales of US $370 million in 2012.
SOURCE NN, Inc.
Copyright 2013 PR Newswire
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