RELM Wireless cuts dividend by 77.8%

RELM Wireless (RWC) will lower its quarterly dividend from $0.09 to $0.02 per share.

This dividend will be payable on July 17, 2017 to shareholders of record of the Company's common stock as of the close of business on June 30, 2017.

The dividend cut follows just a year after RELM initated a quarterly dividend.

Kyle Cerminara, Chairman of the Board, said, "We believe the Board has chosen the proper mix of a sustainable level of cash dividends from which we can grow, a larger buyback program that will repurchase shares at what we believe are very attractive valuations and reinvestment in the business so that we can position RELM for higher revenue and profitability in the future."

RELM Wireless Corporation (RELM) provides two-way radio communications equipment. RELM designs, manufactures and markets wireless communications products consisting of two-way land mobile radios, repeaters, base stations, and related components and subsystems.

Recent headlines