Bonal International, Inc. Declares Five Cent Dividend Fifth Dividend Paid in Last Six Years
ROYAL OAK, Mich., Feb. 23 /PRNewswire-FirstCall/ -- Today, Bonal International, Inc. (OTC: BONL) announced a dividend of $0.05 a share. The dividend comes from previously retained earnings. This is the fifth dividend paid by Bonal International in the last six years. The dividend is payable on March 22, 2010 to shareholders of record as of the close of business on March 1, 2010.
"The Board of Directors feels that the company has weathered the recession," said A. George Hebel, III, CEO, President and chairman of Bonal International. "Because our activity in sales did not decrease as much as we had anticipated we are very optimistic about the future. Overall we feel that the recession was not as long or as severe as was originally anticipated."
In the future, the Bonal International Board of Directors will continue to evaluate the company's dividend policy on an annual basis.
Bonal International Inc., through its wholly owned subsidiary, Bonal Technologies, Inc. is the world's leading provider of sub-harmonic vibratory stress relief and weld conditioning technology. Bonal provides three lines of equipment Meta-Lax® Stress Relief and Weld Conditioning, Pulse Puddle Arc Welding®, and Black Magic® Distortion Control, which are sold in the United States and more than 50 countries worldwide. Headquartered in Royal Oak, Mich., Bonal services the aerospace, armament, automotive, petroleum, die casting, mining, racing, machine tool building, plastic molding, ship building, and welding industries. Bonal's Meta-Lax® technology is used for eliminating thermal stress in metal parts, thereby preventing warping and cracking, at a fraction of the energy and monetary costs of competing technologies. More information can be found at www.Bonal.com or by calling 1-800-Metal-29.
SOURCE Bonal International, Inc.