Argan, Inc. (NYSE: AGX) today announced that its Board of
Directors declared a special cash dividend of $0.70 per share of common
stock, payable November 6, 2014 to shareholders of record at the close
of business on October 15, 2014.
Rainer Bosselmann, Chairman and Chief Executive Officer, commented,
“Argan is pleased to announce the special cash dividend of $0.70 per
share of common stock. Gemma Power Systems has successfully commenced
the Panda Liberty and Panda Patriot projects. The Argan, Inc. Board of
Directors, by virtue of the fourth consecutive annual special cash
dividend, reaffirms its strong support for our continued successful
power industry services and operations and its desire to share Argan’s
economic success with its shareholders. The Board annually evaluates
Argan, Inc.’s ongoing financial and operational performance in
determining the declaration of dividends strategically aligned to
enhancing shareholder value.”
About Argan, Inc.
Argan’s primary business is designing and building energy plants through
its Gemma Power Systems subsidiary. These energy plants include
traditional gas as well as alternative energy including biodiesel,
ethanol, and renewable energy sources such as biomass, wind and solar.
Argan also owns Southern Maryland Cable, Inc.
Certain matters discussed in this press release may constitute
forward-looking statements within the meaning of the federal securities
laws and are subject to risks and uncertainties including, but not
limited to: (1) the Company’s ability to achieve its business strategy
while effectively managing costs and expenses; (2) the Company’s ability
to successfully and profitably integrate acquisitions; and (3) the
continued strong performance of the energy sector. Actual results and
the timing of certain events could differ materially from those
projected in or contemplated by the forward-looking statements due to a
number of factors detailed from time to time in Argan’s filings with the
Securities and Exchange Commission. In addition, reference is
hereby made to cautionary statements with respect to risk factors set
forth in the Company’s most recent reports on Form 10-K and 10-Q, and
other SEC filings.
Copyright Business Wire 2014