Noble International Announces First Quarterly Dividend
9 June 2000
Noble International Announces First Quarterly DividendDETROIT - Noble International, Ltd. today announced that its Board of Directors has declared a quarterly dividend of $0.075 per share of Noble common stock to be paid June 30, 2000 to stockholders of record June 15, 2000. This dividend is the first in a quarterly dividend program approved by the board of directors. Robert J. Skandalaris, the Company's Chairman and Chief Executive Officer, stated that "This new dividend program begins a significant step toward the commitment we have to reward the stockholders who have demonstrated their support of the Company. Noble has worked hard to achieve its financial strength and stability and we believe that it is appropriate to pay a dividend to our stockholders who have been behind our efforts in reaching those goals." The Company also announced today that it has terminated its relationship with J.P. Morgan Securities Inc. J.P. Morgan was retained by the Company in December of 1999 to review strategic opportunities to increase shareholder value including the potential purchase, merger, sale or acquisition. Based on the information provided by J.P. Morgan, the board has concluded that the Company should continue its strategy of developing its role as the leading supplier of laser-welded blanks to the automotive industry as well as the enhancement of stockholder value through opportunistic acquisitions. Mr. Skandalaris stated "We are appreciative of the effort J.P. Morgan put into reviewing the opportunities available to the Company. We are committed to continuing our focus on the growing of our core automotive group as well as expanding our presence in the non-automotive sector. The metal processing opportunities before us appear to be strong and we are capturing an increasing share of the laser welding market. We hope to enhance this growth with additional capabilities and services. We believe that the opportunities that lie ahead of us will further our dominant position as a Tier II supplier and bring added value to our stockholders." Noble International, Ltd. is a leading Tier II full-service supplier of automotive parts, component assemblies and value-added services to the automotive industry. As a supplier, Noble provides design, engineering, manufacturing, complete program management and other services to the automotive market. Noble delivers integrated component solutions, technological leadership and product innovation to original equipment manufacturers (OEMs) and Tier I automotive parts suppliers thereby helping its customers increase their productivity while controlling costs. Certain statements in this news release may be "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements regarding future prospects and developments are based upon current expectations and involve certain risks and uncertainties that could cause actual results and developments to differ materially from the forward-looking statements, including those detailed in the company's filings with the Securities and Exchange Commission.