Synagro Technologies, Inc. Announces Payment of Dividends on Common Stock
July 05 2005 - 12:04PM
Business Wire
Synagro Technologies, Inc. (NASDAQ SmallCap and ArcaEx
Markets:SYGR), ("the Company") announced today that its Board of
Directors has declared a cash dividend of $0.10 per common share to
all of its shareholders of record as of July 18, 2005. The dividend
is payable on August 2, 2005. This is the initial dividend pursuant
to the Company's recently adopted dividend policy under which it
currently expects to pay quarterly dividends at an annual rate of
approximately $0.40 per common share. Synagro Technologies, Inc.
believes that it is the largest recycler of biosolids and other
organic residuals in the United States and it believes that it is
the only national company focused exclusively on the estimated $8
billion organic residuals industry, which includes water and
wastewater residuals. The Company serves approximately 600
municipal and industrial water and wastewater treatment accounts
with operations in 37 states and the District of Columbia. The
Company offers a broad range of water and wastewater residuals
management services focusing on the beneficial reuse of organic,
nonhazardous residuals resulting from the wastewater treatment
process, including drying and pelletization, composting, product
marketing, incineration, alkaline stabilization, land application,
collection and transportation, regulatory compliance, dewatering,
and facility cleanout services. Safe Harbor Statement This press
release contains certain forward-looking statements, within the
meaning of the Private Securities Litigation Reform Act of 1995,
which involve known and unknown risks, uncertainties or other
factors not under Synagro's control which may cause the actual
results, performance or achievement of Synagro to be materially
different from the results, performance or other expectations
implied by these forward-looking statements. These factors include,
but are not limited to: the risk that our stockholders may not
receive the level of dividends provided for in the dividend policy
adopted by our board or any dividends at all; unseasonable weather;
changes in government regulations; the ability to find, timely
close, and integrate acquisitions; changes in federal wastewater
treatment and biosolid regulation; our ability to comply with
federal, state and local environmental regulations or to maintain
and obtain necessary permits; competition in the wastewater
residuals management business; the risk of early termination of
customer contracts; our level of debt; our ability to obtain
additional financing; our ability to maintain sufficient insurance;
the effect of the restrictions in our senior secured credit
facility on our operation; and our ability to service our debt.
Other factors are discussed in Synagro's periodic filings with the
Securities and Exchange Commission.
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