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December 11, 2012
12:28 EDTSGCSuperior Uniform announces special dividend of 54c per share
As part of its ongoing commitment to maximize value to its shareholders, the Board of Directors of Superior Uniform Group declared a special dividend of 54c per share, payable December 31 to shareholders of record as of December 21. This dividend represents a prepayment of the company's regular quarterly dividends for 2013. The special dividend will result in a total cash outlay of approximately $3.3M. For 2012, the company's dividend payments will total $1.08 per share. CEO Michael Benstock stated "We believe today's announcement of the prepayment of the company's 2013 dividend provides us with a tax-efficient method to return capital to our shareholders prior to the anticipated significant increase in tax rates associated with dividend payments. We continue to have great confidence in the future growth opportunities for our company. Our very strong financial position puts us in a position to be able to make this advance payment without hindering our ability to invest in our future."
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