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Technology Stocks : SNDT - Sand Technology - A diamond in the sand
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To: let who wrote (1002)3/17/1999 8:27:00 AM
From: Sleeper  Read Replies (1) of 1200
 
Just like AR said in the Conference Call- this is much needed cash!

Sleeper

Sand Technology Systems Affiliate, Hitachi Data Systems Canada, Declares a $2,000,000 Dividend
MONTREAL, QUEBEC--SAND TECHNOLOGY SYSTEMS INTERNATIONAL INC. (NASDAQ: SNDCF - news) today announced that its 40 percent owned affiliate Hitachi Data Systems Inc. has for the second time in the past twelve months declared a dividend to its shareholders. The most recent dividend, payable in March 1999, totalled $2 Million. Sand's portion of this dividend will amount to $800,000.

Arthur Ritchie, President and Chief Executive Officer of Sand, said that Hitachi Data Systems Canada had continued to perform very well to-date through fiscal 1999 and that sales of software and services have continued to show strength. Even more important was the very strong resurgence in Canada of peripheral hardware subsystems which, after several years of low market activity, has again positioned Hitachi as the market leader in terms of product functionality and excellence.

Mr. Ritchie concluded by saying that this injection of funds into Sand ''would be used to fuel the growth of its Nucleus Series of products and for the acquisition of related technologies.''
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