Company Release - 11/29/2012 4:05 PM ET
PORT WASHINGTON, N.Y.--(BUSINESS WIRE)--
Systemax Inc. (NYSE:SYX) announced today that its Board of
Directors has declared a special one-time cash dividend of $0.25 per
share to shareholders of the company's common stock. The dividend will
be payable on December 21, 2012 to shareholders of record as of the
close of business on December 12, 2012. The total amount of cash to be
disbursed for the special dividend is expected to be approximately $9.1
million.
Richard Leeds, Chairman and Chief Executive Officer, said, “We
continuously review the strategic use of our capital and are pleased to
return capital to shareholders through this special dividend. Our strong
balance sheet and healthy cash position provides us significant
flexibility as we continue to invest in our business and execute on our
strategic plan.”
About Systemax Inc.
Systemax Inc. (http://www.systemax.com),
a Fortune 1000 company, sells personal computers, computer components
and supplies, consumer electronics and industrial products through a
system of branded e-Commerce websites, retail stores, relationship
marketers and direct mail catalogs in North America and Europe. The
primary brands are TigerDirect, MISCO, WStore and Global Industrial.
Forward-Looking Statements
This press release contains forward-looking statements about the
Company’s performance. These statements are based on management’s
estimates, assumptions and projections and are not guarantees of future
performance. The Company assumes no obligation to update these
statements. Actual results may differ materially from results expressed
or implied in these statements as the result of risks, uncertainties and
other factors including, but not limited to: (a) unanticipated
variations in sales volume, (b) economic conditions and exchange rates,
(c) actions by competitors, (d) the continuation of key vendor
relationships, (e) the ability to maintain satisfactory loan agreements
with lenders, (f) risks associated with the delivery of merchandise to
customers utilizing common carriers, (g) the operation of the Company’s
management information systems, and (h) unanticipated legal and
administrative proceedings. Please refer to “Risk Factors” and the
Forward Looking Statements sections contained in the Company’s Form 10-K
for a more detailed explanation of the inherent limitations in such
forward-looking statements.
Investor/Media Contacts:
Brainerd Communicators, Inc.
Mike
Smargiassi / Nancy Zakhary
212-986-6667
[email protected]
[email protected]
Source: Systemax Inc.