FARMINGDALE, N.Y., April 19, 2017 /PRNewswire/ -- Cemtrex Inc. (Nasdaq: CETX, CETXP, CETXW), a world leading industrial and manufacturing solutions company announced, that today, Company is paying its first ever cash dividend on common stock to shareholders of record on March 31, 2017. The Company is seeking to broaden its investor base, because some mutual funds will only invest in stocks that pay dividends.
The Company has already paid a prorated portion of $1.00 per share per year, cash dividend on its outstanding Series 1 Preferred shares on March 31, 2017.
"We have sufficient cash flow and confidence in the future to give us comfort that we can afford to fund both a dividend and our ongoing acquisition program," said Saagar Govil, Chairman & CEO, "We have joined the ranks of dividend payers and are pleased to return capital to our shareholders," continued Mr. Govil.
Cemtrex, Inc. (NASDAQ: CETX) is a global, diversified industrial and manufacturing company that provides a wide array of solutions to meet today's technology challenges and is rapidly growing through acquisitions. Cemtrex provides: manufacturing services of advanced custom engineered electronics, industrial contracting services, monitoring instruments for industrial processes and environmental compliance, and equipment for controlling particulates, hazardous pollutants, and Greenhouse gases used in carbon trading globally.
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This press release contains forward-looking statements. Actual results could differ materially from those projected in the forward-looking statements as a result of a number of risks and uncertainties. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date.
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SOURCE Cemtrex Inc.