FORT LAUDERDALE, Fla., March 21, 2018 /PRNewswire/ -- Ocean Bio-Chem, Inc. (NASDAQ: OBCI), announced today that its Board of Directors declared a special cash dividend of $0.06 per share, payable on April 16, 2018 to shareholders of record on April 2, 2018.
"We are very pleased to be able to provide to our shareholders the special cash dividend," said Peter Dornau, Ocean Bio-Chem's President and Chief Executive Officer. "This dividend demonstrates Ocean Bio-Chem's strong financial condition and our continued commitment to increasing shareholder value."
About Ocean Bio-Chem, Inc.:
Ocean Bio-Chem, Inc. is principally engaged in the manufacturing, marketing and distribution of a broad line of appearance and maintenance products for boats, recreational vehicles, automobiles, power sports, outdoor power equipment and motorcycle markets under the Star brite®, StarTron®, Performacide® and other trademarks within the United States and Canada. In addition, the Company produces private label formulations of many of its products for various customers and provides custom blending and packaging services for these and other products.
The Company trades publicly under NASDAQ Capital Markets, Ticker Symbol: OBCI.
Certain statements contained in this Press Release constitute forward-looking statements. For this purpose, any statements contained in this report that are not statements of historical fact may be deemed forward-looking statements. Without limiting the generality of the foregoing, words such as "believe," "may," "will," "expect," "anticipate," "intend," or "could," including the negative or other variations thereof or comparable terminology, are intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors which may cause actual results to be materially different from those expressed or implied by such forward-looking statements. Factors that may affect these results include, but are not limited to, the highly competitive nature of our industry; reliance on certain key customers; changes in consumer demand for marine, recreational vehicle and automotive products; advertising and promotional efforts; exposure to market risks relating to changes in interest rates, foreign exchange rates, prices for raw materials that are petroleum or chemical based and other factors.
CEO and President
Vice President & CFO
SOURCE Ocean Bio-Chem, Inc.