SUN VALLEY, Calif., Feb. 12, 2004 (PRIMEZONE) -- Flamemaster Corporation (Nasdaq:FAME) announced that its Board of Directors declared a quarterly cash dividend of .023 cents payable on March 25, 2004 to shareholders of record February 27, 2004.
The quarterly cash dividend was adjusted to reflect the spin-off of StarBiz Corporation to the Company's Shareholders during the 1st quarter of fiscal 2004. The reduced payout reflects the lower income from investment and service activity generated by StarBiz Corporation. The combined lower Flamemaster dividend and the announced intent of StarBiz to issue a dividend should combine to approximate the prior year dividend payout. However, Flamemaster cannot guarantee that StarBiz will pay any dividends.
Flamemaster Corporation is a specialty chemicals manufacturer servicing the aerospace and defense industries with high performance aircraft sealants and coatings.
The release herein may contain or identify a forward-looking statement. These statements are based on a number of assumptions and estimates, which are inherently subject to uncertainty and contingencies, many of which are beyond the control of the Company and reflect future business decisions, which are subject to change.