VSE Corporation (Nasdaq: VSEC) reported today that the Company’s Board
of Directors has declared a quarterly dividend of $0.09 per share, an
increase of 12.5%, for an annual payout rate $0.36 per share as compared
to the prior annual payout rate of $0.32 per share. The dividend will be
paid on July 31, 2019, to stockholders of record as of July 17, 2019.
VSE has paid cash dividends each year since 1973 and has increased its
cash dividend rate each year since 2004. The payment and amount of
future dividends are subject to authorization by the Board of Directors,
and will depend on current conditions, including the Company’s earnings,
financial condition, working capital requirements, and other factors.
“We are pleased to announce an increase in our quarterly dividend,” VSE
CEO, John Cuomo said. “This increase reflects our confidence in the
future of the company and our commitment to returning value to our
shareholders.”
About VSE
Established in 1959, VSE is a diversified products and services company
providing logistics solutions with integrity, agility, and value. VSE is
dedicated to making our federal and commercial clients successful by
delivering innovative solutions for vehicle, ship, and aircraft
sustainment, supply chain management, platform modernization, mission
enhancement, and program management, and providing energy, IT, and
consulting services. For additional information regarding VSE services
and products, please see the Company’s web site at www.vsecorp.com
or contact Christine Kaineg, VSE Investor Relations, at (703) 329-3263.
VSE encourages investors and others to review the detailed reporting and
disclosures contained in VSE’s public filings with the Securities and
Exchange Commission (SEC) for further information and analysis of VSE’s
financial condition and results of operations. The public filings
include additional discussion about the status of specific customer
programs and contract awards, risks, revenue sources and funding,
dependence on material customers, and management’s discussion of short
and long term business challenges and opportunities.
Safe Harbor
This news release contains statements that to the extent they are not
recitations of historical fact, constitute “forward looking statements”
under federal securities laws. All such statements are intended to be
subject to the safe harbor protection provided by applicable securities
laws. For discussions identifying some important factors that could
cause actual VSE results to differ materially from those anticipated in
the forward looking statements in this news release, see VSE’s public
filings with the SEC.
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