At the same time, Alan Abrams, co-chairman, president and CEO of Abrams Industries Inc., says the company will be paying stockholders a special one-time cash dividend of 16 cents per share and a regular quarterly cash dividend of four cents per share--the company's 100th consecutive quarterly dividend. Both dividends will be paid July 6 to holders of record on June 18.
"The investors in Abrams Industries have been very loyal over the years and this is one small way we can recognize that," Abrams says. "We are pleased that our capital position has provided us with the opportunity to reward our shareholders with regular quarterly dividends and this special cash dividend, while still providing our company room to grow."
He adds, "Our first priority remains to use our resources to grow our business. We also believe that it makes sense to return a portion of the cash to our shareholders this year with this special dividend, especially in view of the favorable tax treatment on dividends."
Barry Abramson, Servidyne senior vice president, says the addition of BPE's expertise "broadens Servidyne's capabilities to help clients economically operate and maintain facilities at optimum levels of effectiveness and efficiency, and further expands Abrams Industries' portfolio of offerings designed to improve facility operating performance and lower costs, while improving the level of service and comfort for building tenants and guests."
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