Mile Marker International, Inc. Announces Quarterly Cash Dividend
POMPANO BEACH, Fla.--March 30, 2005--Mile Marker International, Inc. (OTCBB:MMRK), a specialty vehicle parts distributor, today announced the payment of a second quarter cash dividend of $0.0625 per common share.Mile Marker International, Inc. today announced that its Board of Directors authorized the payment of a quarterly cash dividend of $0.0625 per common share on April 29, 2005 for all shareholders of record as of April 15, 2005.
Richard Aho, President and CEO of Mile Marker International, Inc., said: "We are expecting excellent financial results for the first quarter of 2005 powered by the continued strong growth in our commercial sales and supplemented by our military winch sales. We are continuing our practice of rewarding our shareholders with cash dividends while retaining approximately half of our earnings to fund our future growth. During this quarter, we moved our Washington State subsidiary into a new 20,000 square foot warehouse to better service our continually increasing customer demand for our electric winches from China. Our Company's dividend represents an annualized yield of 5.3% based on the Company's current share price of $4.70."
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 risks factors and uncertainties detailed in the Company's filings with the U.S. Securities and Exchange Commission.