Bonal International, Inc. Declares Third Ten Cent Dividend, Sets Record
ROYAL OAK, Mich., Dec. 12, 2012 /PRNewswire/ -- Today, Bonal International, Inc. (OTC: BONL) for the third time this fiscal year announced a dividend of $0.10 a share setting a fiscal year dividend record of $0.30 a share for the company. This is the twelfth dividend paid by Bonal International in the last eight consecutive fiscal years. The dividend is payable on December 21, 2012 to shareholders of record as of the close of business on December 17, 2012.
"Due to the uncertainty of the tax situation in the coming year and following a record net income in the second quarter, the Board of Directors elected to move a dividend that would have been issued in calendar year 2013 ahead to be paid before the end of this calendar year," said chairman A. George Hebel, III.
In the future, the Bonal International Board of Directors will continue to evaluate the company's dividend policy on a quarterly 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 serves the aerospace, armament, automotive, petroleum, die casting, mining, racing, machine tool building, mold making, ship building, and welding industries. Bonal's patented Meta-Lax® technology is used for eliminating thermal stress in metal parts, thereby preventing warping and cracking, at a fraction of the time, energy, and monetary costs of competing technologies. More information can be found at www.Bonal.com or by calling 1-800-Meta-Lax.
SOURCE Bonal International, Inc.