Out of the multitudes of Pink Sheet and OTCBB companies, it is certainly refreshing to run across one that pays its investors dividends, regardless of the dollar amount.
Advant-e Corp., a provider of Internet-based Electronic Data Interchange and electronic document management software, has released word that it will be issuing a dividend payment to its investors of $.01 per share. Advant-e Corporation will be paying the dividend on June 28th, 2010 for investors on record as of June 14th, 2010. This is actually the second installment of a dividend dispersement that the Board of Directors approved on October 30, 2009. The payment schedule was set at that time to be dividends of $.01 per share paid by December 31, 2009, June 30, 2010, and December 31, 2010.
Advant-e Corporation and its subsidiaries attest these dividend payments to the Company’s strong corporate strategy and strong cash flow. Advant-e develops, markets, and resells software and provides services that allow its customers to send and receive business documents electronically in standard and proprietary formats. Their business model helps firms automate their document processing system, a market that is currently booming as corporations are struggling to cut costs wherever they can. Their subsidiaries, Edict Systems and Merkur Group, specialize in vastly different areas of document preparation. Edict Systems specializes in providing hosted Electronic Data Interchange solutions that utilize the Internet as the primary communications method. Merkur Group provides proprietary software that integrates and connects large Supply Chain Management (SCM), Customer Relationship Management (CRM), and financial and Enterprise Resource Planning (ERP) systems with third party software that provides multiple delivery and document capture options.
Recently, Advant-e Corporation posted their figures for the first quarter of 2010. The Company reported revenue of $2,193,821, a 2% increase, compared to revenue of $2,155,291 in the first quarter of 2009. Revenue from Edict Systems increased 10% in the quarter while revenue from Merkur Group decreased by 33%. Jason K. Wadzinski, Chairman, Chief Executive Officer, and President, remarked that while income decreased from the Merkur Group subsidiary, net income for the first quarter of 2010 was $264,279, a 13% increase compared to net income of $234,677, for the same period in 2009. The document processing business might not be as glamorous as some other industries, but the numbers show that it can be profitable.
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