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Pioneer Power Confirms Date of Previously Announced One-Time Cash Dividend
One-time Cash Dividend of $0.12 per Common Share to be Paid on July 7 FORT LEE, N.J.--(BUSINESS WIRE)-- As previously announced on June 2, 2021, Pioneer
About this update from Pioneer Power Solutions, Inc.
[{"type":"text","content":"\nOne-time Cash Dividend of $0.12 per Common Share to be Paid on July 7 \n\n FORT LEE, N.J.--(BUSINESS WIRE)--\nAs previously announced on June 2, 2021, Pioneer Power Solutions, Inc. (Nasdaq: PPSI) (\"Pioneer Power\" or the \"Company\"), a company engaged in the manufacture, sale and service of electrical transmission, distribution and on-site power generation equipment, confirms that on June 1, 2021, its Board of Directors declared a one-time special cash dividend of $0.12 per common share.\n\nThe dividend will be paid on July 7, 2021 to shareholders of record as of June 22, 2021. The special dividend will result in an aggregate distribution slightly exceeding $1 million based on the current number of shares outstanding. The dividend will be funded with surplus cash on the Company’s balance sheet.\n\nAbout Pioneer Power Solutions, Inc. \n\nPioneer Power Solutions, Inc. manufactures, sells and services a broad range of specialty electrical transmission, distribution and on-site power generation equipment for applications in the utility, industrial, commercial and backup power markets. The Company’s principal products include switchgear and engine-generator controls, complemented by a national field-service network to maintain and repair power generation assets. To learn more about Pioneer, please visit its website at www.pioneerpowersolutions.com.\n\nSafe Harbor Statement: \n\nThis press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Such statements may be preceded by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential” or similar words. Forward-looking statements are not guarantees of future performance, are based on certain assumptions and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company’s control, and cannot be predicted or quantified and consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, without limitation, risks and uncertainties associated with (i) the Company’s ability to successfully increase its revenue and profit in the future, (ii) general economic conditions and their effect on de...