MORRISVILLE, N.C., April 4, 2012 (GLOBE NEWSWIRE) -- Issuer Direct Corporation (OTCBB:ISDR), a market leader and innovator of disclosure management solutions and cloud–based compliance technologies, today announced that its Board of Directors has declared a quarterly cash dividend of $0.03 per share. The dividend is payable May 3, 2012 to shareholders of record as of April 19, 2012. The cash dividend is the first in the Company's history.
"A key element of the philosophy of our Company, its Board of Directors, and the management team is to enhance shareholder value, and we believe a cash dividend policy will allow our shareholders to participate directly in the Company's success," stated Brian Balbirnie, Chief Executive Officer of Issuer Direct Corporation. "The amount of net cash generated by our operating activities has continued to significantly exceed our capital spending requirements, and we believe that utilizing some of this excess cash flow to pay cash dividends is not only in the best interests of our shareholders but also reflects our confidence in the Company's business outlook."
"The initial quarterly dividend of $0.03 ($0.12 annually) provides an annualized yield of 3.6% to shareholders, based upon ISDR's closing stock price of $3.33 per share on Monday, April 2, 2012," added Balbirnie. "Our Board of Directors will consider future increases, if any, in the quarterly cash dividend when the Company's operating results justify such action. The Board may also consider the periodic payment of stock dividends in the future, as a way to increase the number of shares available in our public 'float' and thereby improve the trading liquidity in our common stock."
"Our new cash dividend policy does not affect the Company's growth strategy, as we fully intend to invest in both organic growth and prudent acquisitions in the future," noted Wes Pollard, the Company's Chief Financial Officer.
Any future cash dividends and the record date for any such dividends will be approved each quarter by the Company's Board of Directors and announced by the Company. Payment of future dividends is at the discretion of the Board of Directors and will depend upon revenue, earnings, cash flow from operations, the overall outlook for the Company's business, cash balances and alternative uses for cash resources. The Company cannot be certain that it will have sufficient cash flows to continue to pay cash dividends.
About Issuer Direct Corporation:
Issuer Direct Corporation ("IDC") is a market leader and innovator of disclosure management solutions and cloud–based compliance technologies. With a focus on corporate issuers, the Company alleviates the complexity of maintaining compliance with its integrated portfolio of products and services that enhance companies' ability to efficiently produce and distribute their financial and business communications both online and in print.
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Learn more about Issuer Direct today:
Financial Tear sheet http://ir.issuerdirect.com/tearsheet/html/isdr
Request materials http://ir.issuerdirect.com/isdr/request_materials
Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act") (which Sections were adopted as part of the Private Securities Litigation Reform Act of 1995). Statements preceded by, followed by or that otherwise include the words "believe," "anticipate," "estimate," "expect," "intend," "plan," "project," "prospects," "outlook," and similar words or expressions, or future or conditional verbs such as "will," "should," "would," "may," and "could" are generally forward-looking in nature and not historical facts. These forward looking statements involve known and unknown risks, uncertainties and other factors which may cause the Company's actual results, performance or achievements to be materially different from any anticipated results, performance or achievements. The Company disclaims any intention to, and undertakes no obligation to, revise any forward-looking statements, whether as a result of new information, a future event, or otherwise. For additional risks and uncertainties that could impact the Company's forward-looking statements, please see the Company's Annual Report on Form 10-K for the year ended December 31, 2011, including but not limited to the discussion under "Risk Factors" therein, which the Company has filed with the SEC and which may be viewed at http://www.sec.gov.