Daktonics cuts dividend by 40%

Daktronics (DAKT) today announced that it will lower its regular quarterly dividend from $0.10 to $0.06 per share. The company does pay a $0.04 special cash dividend instead for this quarter.

"We are pleased to simultaneously return value to shareholders through regular quarterly dividends, special dividends, share repurchases and continued investment into business growth opportunities," said Reece Kurtenbach, Chairman, President and Chief Executive Officer. "This quarter, we changed to a regular and special dividend structure to allow for flexibility in cash allocations between our dividend program, the just-announced stock repurchase program, design and development investments, and other business opportunities."

The quarterly dividend and special cash dividends will be payable on July 8, 2016, to shareholders of record as of the close of business on June 27, 2016.

Although the Company intends to pay regular quarterly dividends for the foreseeable future, subsequent dividends will continue to be reviewed quarterly and declared by the Board at its discretion.

Source: Daktronics

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