MMRK 3.65...worth another look:
(COMTEX) B: Mile Marker International, Inc. Announces 25% Higher Quarterly
B: Mile Marker International, Inc. Announces 25% Higher Quarterly Cash Dividend
POMPANO BEACH, Fla., Dec 17, 2004 (BUSINESS WIRE) -- Mile Marker International,
Inc. (OTCBB:MMRK), a specialty vehicle parts distributor, today announced the
payment of a 25% higher quarterly 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 January 17, 2005 for all shareholders of record as of December 30, 2004. This
dividend represents a 25% increase from the cash dividend of $0.05 per common
share paid in the fourth quarter of 2004.
Richard Aho, President and CEO of Mile Marker International, Inc., said: "As we
previously indicated, we are expecting a record year for 2004. While we have not
finalized our 2004 financial results, it appears that our 2004 sales may be
approximately 70% higher than our sales in 2003 and that our 2004 net income may
be approximately 170% greater than our net income after tax reported in 2003.
During 2004, the Company met its goal of sharing its earnings between dividends
to shareholders and funding future growth. Based on the Company's record
performance in 2004 and its expected continued strong performance in 2005, the
Company's Board of Directors has decided it would be appropriate to raise the
Company's quarterly dividend by 25% in the first quarter of 2005. This increased
dividend represents an annualized yield of 7.6% based on the Company's current
share price of $3.30."
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.
SOURCE: Mile Marker International, Inc.
CONTACT: Mile Marker International, Inc., Pompano Beach
Al Hirsch, 954-782-0604
al@milemarker.com
Copyright (C) 2004 Business Wire. All rights reserved.
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KEYWORD: FLORIDA
INDUSTRY KEYWORD: AEROSPACE/DEFENSE
GOVERNMENT
MANUFACTURING
AUTOMOTIVE
DIVIDEND
Copyright
Business
Wire
2004
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