Mr. Horowitz, the Company's Chairman, Chief Executive Officer and President stated, "Primarily as the result of our successful sale of Nationwide Industries last month, our Board of Directors believes the special one-time dividend is appropriate at this time and is a way to reward stockholders for their support." He added, "We currently have minimal debt on our balance sheet and do not believe the one-time dividend will affect our current strategy, which is to grow P&F's position in the air tools and related accessories market. Additionally, we believe the initiation of a quarterly dividend illustrates our belief in the Company's growth strategy, and should not materially impact our future projected future cash flows, or ability to fund anticipated capital requirements, including any potential acquisitions. Lastly, the initiation of a quarterly dividend we believe signifies our commitment to enhance stockholders value.
Source: P&F Industries
2022