Epolin Inc. (OTCBB: EPLN) engages in the manufacturing, marketing, research and development of infrared dyes, laser-absorbing dyes, and infrared dye formulations for a wide range of markets such as laser protection, welding, sunglasses, optical filters, glazing, imaging, and security inks and tagants. The company sells its products to manufacturers of plastics, credit cards, electronics, glass and other materials in the United States, Asia and Europe, utilizing independent distributors and sales agents.
The company today announced its board of directors has declared a special cash dividend of 4 cents per share, payable August 7, 2008, to shareholders of record at the close of business on July 24, 2008.
“This special 4-cent cash dividend underscores the board’s confidence in our financial position and demonstrates our commitment to shareholder interests. We are especially pleased that our continued profitability and cash position has enabled this additional return to our shareholders,” Murray S. Cohen, Ph.D., chairman of the board, stated in the press release.”
In April 2006, Epolin’s board created a dividend policy supporting a regular annual cash dividend; according to the plan, the company may also issue a special cash dividend from time to time as well. Since the adoption of the plan, the company has paid three regular annual cash dividends of 2 cents per share in May 2006, May 2007 and May 2008. Additionally, the adoption of the dividend policy, a special cash dividend of 2 cents per share, has been paid in each of January 2007 and January 2008.
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