Mart Announces $0.10 Per Common Share Dividend
Mart Resources has declared a dividend of $0.10 per a common share payable on August 8, 2012 to shareholders of record at the close of business on July 23,
2012.
Mart's Board of Directors has also adopted a dividend policy reflecting its
intention to pay quarterly dividends of $0.05 per common share commencing in
September 2012. The payments of dividends in the future are dependent on Mart's
cash flows, capital expenditure budgets, earnings, financial condition and other
factors as the Board of Directors may consider appropriate from time to time.
Wade Cherwayko, CEO of Mart commented: "The declaration by Mart of its first
dividend to shareholders is a very important milestone for the Company and
reflects our positive view of the sustainability of cash flow from Mart's
Nigerian operations."
The future out look for this stock is looking good. The stock is trading at only $1.42 as of now, therefore, a $0.10 dividend payout is about a 7% dividend payout. But normally after the dividend payout, the stock will drop by the same amount and we are seeing $1.20 support line. So trade this stock on a medium term outlook.
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