OMAHA, Neb., May 26, 2016 /PRNewswire/ -- Western Capital Resources, Inc. (OTCQX: WCRS) announced today that its Board of Directors has approved a dividend of $0.025 per share on its outstanding common stock. The cash dividend announced today is payable on or about June 15, 2016 to stockholders of record at the close of business on June 6, 2016.
John Quandahl, the company's President and CEO stated, "Based on our recent strong financial performance and the healthy financial condition of the company, our board believes that the dividend is appropriate and a good way to return excess capital to stockholders." He added, "In fact, our board presently expects that we will pay dividends on a quarterly basis amounting to ten cents per share annually."
About Western Capital Resources, Inc.
We are a publicly traded operating company based in Omaha, Nebraska. We are focused on growing through the acquisition of established lower middle-market businesses with up to $100 million in sales. We are industry agnostic and target leaders in niche industries or geographies, as well as opportunistic purchases of businesses that we believe can be improved operationally. We have a particular interest in situations involving businesses facing succession dilemmas, corporate divestitures and businesses in out-of-favor industries. Current holdings include companies in the franchising, retail and consumer finance industries. Our strategy is to build a diversified portfolio of businesses that generate strong operating cash flow.
Blackstreet Capital is a majority stockholder of Western Capital Resources, Inc. For more information about Western Capital, visit www.westerncapitalresources.com.
The statements in this press release that are not historical facts are forward-looking statements. These forward-looking statements have been made in reliance on the "safe harbor" protections provided under the Private Securities Litigation Reform Act of 1995. These statements may be accompanied by words such as "believe," "estimate," "project," "expect," "anticipate," or "predict," that convey the uncertainty of future events or outcomes. These statements are based on assumptions that we believe are reasonable; however, many important factors could cause our actual results in the future to differ materially from the forward-looking statements made herein and in any other documents or oral presentations made by, or on behalf of us.
There can be no assurance that any future dividends will be declared. The declaration of future dividends, and the establishment of record and payment dates, is subject to final determination by our Board of Directors after its review of our financial performance and condition. Important factors which could cause actual results to differ materially from those in forward-looking statements include, among others, restrictions on the payment of dividends under existing or future credit agreements or other financing arrangements; changes in tax laws relating to corporate dividends; a determination by the Board of Directors that the declaration of a dividend is not in the best interests of the company and its stockholders; an increase in our cash needs or a decrease in available cash; or a deterioration in our financial condition or results. For further information on these and other risks and uncertainties, see our SEC filings, including our 2015 Annual Report on Form 10-K filed with the SEC on March 30, 2016. Copies of that report as well as other SEC filings can be obtained from our website at www.westerncapitalresources.com. We assume no obligation to publicly update or revise any forward-looking statements made herein or any other forward-looking statements made by us, whether as a result of new information, future events or otherwise.
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SOURCE Western Capital Resources, Inc.