NEW YORK, Aug. 13, 2013 (GLOBE NEWSWIRE) -- SMG Indium Resources Ltd. (the "Company") (OTCBB:SMGI) (OTCBB:SMGIW), today announced that its Board of Directors (the "Board") has approved a payment of a special cash distribution in the amount of U.S. $0.10 per share of common stock (the "Common Stock"). The record date for shareholders entitled to receive the dividend will be September 20, 2013. The payment date will be September 25, 2013. The distribution is expected to be treated as a return of capital for tax purposes. The Company plans to continue returning capital to shareholders on a quarterly basis, subject to prevailing market conditions. The Board views this transaction as a way to return value to shareholders. The implied yield, assuming the Company makes four quarterly distributions of $.10 per share per quarter, is approximately 13.8% per annum based on the Company's closing stock price of $2.90 per common share.
About SMG Indium Resources Ltd.
SMG Indium Resources Ltd. purchases and stockpiles the metal indium. Our strategy is to achieve long-term appreciation in the value of our indium stockpile, and not to actively speculate with regard to short-term fluctuations in indium prices. Our indium is insured and physically stored at a Brink's Global USA facility located in the United States. Our shareholders have the ability to effectively purchase an interest in indium in a manner that does not directly include the risks associated with ownership of companies that explore for, mine or process indium. For more information please contact: email@example.com
This press release may contain forward-looking statements regarding SMG Indium Resources Ltd. current expectations of future events that involve risks and uncertainties, including, without limitation, and not limited to indium price volatility from supply and demand factors, international export quotas that could affect the availability of indium and our ability to purchase indium, lack of any internationally recognized exchanges for indium, limited number of potential suppliers of indium and potential customers who purchase indium, disruption of mining operations, technological obsolescence, substitution of other materials decreasing the demand for indium, regulatory requirements regarding indium, risks associated with international economic and political events, lack of operational liquidity, lack of investment liquidity, factors affecting our NMV, and changes in interest rates. Such statements are based on management's current expectations and are subject to a number of substantial risks and uncertainties that could cause actual results or timeliness to differ materially from those addressed in the forward-looking statements. Factors that may cause such a difference are listed from time to time in reports filed by the Company with the U.S. Securities and Exchange Commission (SEC), including but not limited to risks described in our 2012 Annual Report on Form 10-K as filed with the Securities and Exchange Commission under the caption "Risk Factors." We undertake no obligation to publicly update any forward-looking statements. http://www.smg-indium.com
Richard A. Biele, +1-212-984-0635