WILMINGTON, Del., Nov. 1, 2012 /PRNewswire/ -- Acorn Energy, Inc. (NASDAQ: ACFN), an energy technology holding company, today announced that its Board of Directors has approved a dividend of $0.035 per share to be paid on December 3, 2012 to common stockholders of record on November 15, 2012. The dividend follows Acorn Energy's policy to pay a regular quarterly per share dividend of $.035 per quarter.
John Moore, Chairman & CEO said, "We believe offering our shareholders a dividend on Acorn stock coupled with the ongoing progress of our four portfolio companies will continue to drive shareholder value."
As announced last quarter, Acorn has instituted a Dividend Reinvestment Plan or DRIP. The Plan is administered by Acorn's stock transfer agent, American Stock Transfer & Trust Company, LLC (AST). Stockholders may obtain a copy of the Plan prospectus and enrollment form by contacting AST toll-free at 877-276-7523 or visiting the AST website at www.amstock.com at "Invest Online" under the "Shareholders" tab. It should be noted that participants currently receive a 5% discount when shares are obtained through the DRIP. "We are pleased at the shareholder reaction to the DRIP and encourage all of our shareholders to participate in this program to further enhance their ownership of our stock," stated Mr. Moore.
Acorn also announced that John A. Moore, Chairman of the Board and CEO of Acorn Energy, will host an investor call on November 8, 2012 at 11am EST to discuss its third quarter 2012 results and developments. The Company will release financial results for the third quarter the afternoon of November 7, 2012 after the market closes.
Participants can pre-register for the conference call and webcast by accessing the link below. Pre-registering gives one immediate entry into the call, zero wait time and will automatically populate your outlook calendar with an invitation. http://services.choruscall.com/diamondpass/registration?confirmationNumber=10020911
Participants that would like to join the conference call, but have not registered, can do so by dialing US Toll Free: (866) 652-5200, International Dial in (412) 317-6060 and asking for the "Acorn Energy Conference Call". If you are unable to participate in the live call, a digital replay of the call will be available 2 hours after the end of the live call through 9:00am EST on Friday November 23, 2012 by dialling US Toll Free 1-877-344-7529 or International Toll 1-412-317-0088 and entering access code - 10020911.
About Acorn Energy, Inc. Acorn Energy, Inc. the digital energy company, is a holding company focused on making energy better by providing digital solutions for energy infrastructure asset management. The four businesses in which we have controlling interests, improve the world's energy infrastructure by making it: more secure - providing security solutions for underwater energy infrastructure (DSIT); more reliable - providing condition-based monitoring to critical assets on the electric grid (GridSense, OmniMetrix) and more productive and efficient - increasing oil and gas production while lowering costs through use of permanent ultra-high sensitive seismic tools that allow for a more precise picture of reservoirs (US Seismic). For more information visit: http://www.acornenergy.com.
Safe Harbor Statement This press release includes forward-looking statements, which are subject to risks and uncertainties. There is no assurance that Acorn Energy, Inc. or its operating companies will continue to grow their respective businesses, or that any of them will meet the expectations or execute the initiatives described or referred to above. A complete discussion of the risks and uncertainties which may affect Acorn Energy's business generally and the businesses of its subsidiaries is included in "Risk Factors" in the Company's most recent Annual Report on Form 10-K and its most recent 10-Q as filed by the Company with the Securities and Exchange Commission.
Investor & Press Contact: Paul G. Henning Cameron Associates (212) 554-5462 Paul@cameronassoc.com
SOURCE Acorn Energy, Inc.