DALLAS, Nov. 24, 2015 /PRNewswire/ -- Ascendant Solutions, Inc. (Pink Sheets: ASDS) ("Ascendant" or the "Company") today announced that its Board of Directors has declared a special 1 percent stock dividend on the company's common stock outstanding. The stock dividend is payable December 14, 2015, to shareholders of record December 7, 2015. The dividend will be issued in the form of additional shares of common stock.
"This action by the Board is a strong endorsement of our confidence in Ascendant's growth strategy as well as the underlying strength of our business," said Jim Leslie, Chairman of Ascendant. "We appreciate the support of our shareholders and are pleased to be able to reward them with this stock dividend. We look forward to continuing to enhance shareholder value as we expand Ascendant's healthcare operations."
"This 1 percent stock dividend will support the long-term liquidity of our common shares by adding approximately 218,266 shares to our capitalization," said Mark Heil, President and CFO of Ascendant. "With our healthy operating cash flow and strong balance sheet, we are well positioned to continue our strategy of growth through the integration of other community pharmacies that will extend our portfolio and help drive our financial results. During 2015, we have added three key pharmacy operations to our portfolio, and we will continue to grow our business in this proactive, yet prudent, manner."
About Ascendant Solutions, Inc.
Ascendant Solutions, Inc. is a value-oriented investment firm focused on successfully acquiring, managing and growing community-based pharmacies in the Southwest Region. Ascendant currently has approximately $42 million in net operating loss carryforwards which can be used to shelter future income, thus enhancing free cash flow or debt service capabilities. Interested investors can access financials and stock trading information for Ascendant at OTCMarkets.com or at www.ascendantsolutions.com.
This press release contains forward-looking statements within the meaning of the Securities Act of 1933, the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995. Such statements are based upon management's current expectations, projections, estimates and assumptions. These forward-looking statements may be identified by words such as "expects," "believes," "anticipates" and similar expressions. Forward-looking statements involve risks and uncertainties that may cause future results to differ materially from those suggested by the forward-looking statements. The Company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements that may be made to reflect any future events or circumstances.
SOURCE Ascendant Solutions, Inc.