Mile Marker International, Inc. Announces Quarterly Cash Dividend
POMPANO BEACH, Fla.--Sept. 29, 2004--Mile Marker International, Inc. (OTCBB:MMRK), a specialty vehicle parts distributor, today announced the payment of a fourth quarter 2004 cash dividend of $0.05 per common share.Mile Marker International, Inc. today announced that its Board of Directors authorized the payment of a quarterly cash dividend of $0.05 per common share on October 15, 2004 for all shareholders of record as of October 11, 2004. This dividend represents an annualized yield of 6.25% based on the Company's current share price of $3.20.
Richard Aho, President and CEO of Mile Marker International, Inc., said: "As we continue to grow our sales and our income, we believe that our shareholders should be sharing in our financial success through generous dividend payments at historically low tax rates. We are fortunate to have ample resources to continue growing our business while also paying dividends. As we have previously projected, our 2004 sales, earnings and dividends to date have already exceeded those for all of 2003."
Mile Marker International, Inc., through its wholly-owned subsidiary, Mile Marker, Inc., is a manufacturer and distributor of specialized vehicle parts primarily for the four-wheel drive utility/recreational and military vehicle markets. The Company's unique patented hydraulic winch has received overwhelming acceptance by the U.S. military for installation on new and retrofitted Humvee vehicles.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements which are not historical facts contained in this press release are forward-looking statements that involve certain risks and uncertainties including but not limited to risks associated with the uncertainty of future financial results, additional financing requirements, development of new products, government approval processes, the impact of competitive products or pricing, technological changes, the effect of economic conditions and other risk factors and uncertainties detailed in the Company's filings with the U.S. Securities and Exchange Commission.