ROANOKE, Va., Dec. 6, 2012 /PRNewswire/ -- Optical Cable
Corporation (Nasdaq GM: OCC) ("OCC®" or the "Company")
today announced the declaration of a regular quarterly cash
dividend to OCC's shareholders.
OCC's Board of Directors declared a cash dividend of
$0.02 per share on the Company's
common stock effective December 6,
2012. The dividend will be paid on or about December 21, 2012, to shareholders of record on
December 17, 2012.
The amount of this quarterly dividend represents an increase of
more than 33%, or $0.005 per share,
as compared to the regular quarterly dividends declared by the
Company during fiscal year 2012, and implies an annual cash
dividend of $0.08 per common
share.
OCC's Board of Directors decided to accelerate the declaration
and payment of the first quarterly dividend for fiscal year 2013 —
which would normally be declared in January
2013 and paid in February 2013. It is anticipated that
OCC's next quarterly dividend will be declared in April 2013, consistent with OCC's normal
quarterly dividend declaration schedule.
Neil Wilkin, President and Chief
Executive Officer of OCC, said, "We are pleased that OCC's net
sales and earnings growth enables us to increase the return of
capital to shareholders. The Board's action demonstrates our
confidence in OCC's strategy and our commitment to creating
shareholder value."
Company Information
Optical Cable Corporation ("OCC®") is a leading
manufacturer of a broad range of fiber optic and copper data
communications cabling and connectivity solutions primarily for the
enterprise market, offering an integrated suite of high quality,
warranted products which operate as a system solution or seamlessly
integrate with other providers' offerings. OCC's product
offerings include designs for uses ranging from commercial,
enterprise network, datacenter, residential and campus
installations to customized products for specialty applications and
harsh environments, including military, industrial, mining and
broadcast applications. OCC products include fiber optic and
copper cabling, fiber optic and copper connectors, specialty fiber
optic and copper connectors, fiber optic and copper patch cords,
pre-terminated fiber optic and copper cable assemblies, racks,
cabinets, datacom enclosures, patch panels, face plates,
multi-media boxes and other cable and connectivity management
accessories, and are designed to meet the most demanding needs of
end-users, delivering a high degree of reliability and outstanding
performance characteristics.
OCC® is internationally recognized for pioneering the
design and production of fiber optic cables for the most demanding
military field applications, as well as of fiber optic cables
suitable for both indoor and outdoor use, and creating a broad
product offering built on the evolution of these fundamental
technologies. OCC also is internationally recognized for its
role in establishing copper connectivity data communications
standards, through its innovative and patented technologies.
Founded in 1983, OCC is headquartered in Roanoke, Virginia with offices, manufacturing
and warehouse facilities located in each of Roanoke, Virginia, near Asheville, North Carolina, and near
Dallas, Texas. OCC primarily
manufactures its fiber optic cables at its Roanoke facility which is ISO 9001:2008
registered and MIL-STD-790F certified, its enterprise connectivity
products at its Asheville facility
which is ISO 9001:2008 registered, and its military and harsh
environment connectivity products and systems at its Dallas facility which is ISO 9001:2008
registered and MIL-STD-790F certified.
Optical Cable Corporation, OCC, Procyon, Superior Modular
Products, SMP Data Communications, Applied Optical Systems, and
associated logos are trademarks of Optical Cable Corporation.
Further information about OCC® is available on the
Internet at www.occfiber.com.
FORWARD-LOOKING INFORMATION
This news release by Optical Cable Corporation and its
subsidiaries (collectively, the "Company" or "OCC") may contain
certain forward-looking information within the meaning of the
federal securities laws. The forward-looking information may
include, among other information, (i) statements concerning our
outlook for the future, (ii) statements of belief, anticipation or
expectation, (iii) future plans, strategies or anticipated events,
and (iv) similar information and statements concerning matters that
are not historical facts. Such forward-looking information is
subject to known and unknown variables, uncertainties,
contingencies and risks that may cause actual events or results to
differ materially from our expectations, and such known and unknown
variables, uncertainties, contingencies and risks may also
adversely affect Optical Cable Corporation and its subsidiaries,
the Company's future results of operations and future financial
condition, and/or the future equity value of the Company. A
partial list of such variables, uncertainties, contingencies and
risks that could cause or contribute to such differences from our
expectations or could otherwise adversely affect Optical Cable
Corporation and its subsidiaries is set forth in Optical Cable
Corporation's quarterly and annual reports filed with the
Securities and Exchange Commission ("SEC") under the heading
"Forward-Looking Information." OCC's quarterly and annual
reports are available to the public on the SEC's website at
http://www.sec.gov. In providing forward-looking information,
the Company expressly disclaims any obligation to update this
information, whether as a result of new information, future events
or otherwise except as required by applicable laws and
regulations.
SOURCE Optical Cable Corporation