Dynamic Materials Corporation Declares Cash Dividend
06 June 2005 - 11:41PM
PR Newswire (US)
Dynamic Materials Corporation Declares Cash Dividend BOULDER,
Colo., June 6 /PRNewswire-FirstCall/ -- Dynamic Materials
Corporation (DMC) (NASDAQ:BOOM), the world's leading provider of
explosion- bonded clad metal plates and associated services, today
announced that the board of directors has declared an annual cash
dividend of $0.20 per share. The dividend will be paid to
stockholders of record at the close of business on June 24, 2005.
Yvon Cariou, president and CEO, said, "DMC's long-term stockholders
have benefited from the record financial performance we have
achieved in recent quarters. Groupe SNPE, our majority stockholder,
has informed us of its intent to convert a $1.2 million note
previously issued by the Company into 200,000 shares of DMC common
stock. This debt conversion will reduce our term debt by
approximately 25% and further enhance our financial strength."
After the debt conversion transaction is completed later this
month, Groupe SNPE will own approximately 52% of DMC's shares. "We
are very pleased with our recent performance and remain fully
committed to the continued growth of our business," Cariou said.
"As I have mentioned previously, we see a broad range of expansion
opportunities before us and believe we are well positioned to
pursue them." At the Company's Annual Meeting held June 3, 2005,
DMC stockholders approved the election of all nominees to the board
of directors. The nominees included Mr. Bernard Zeller, who joins
the board this year and is currently senior vice president of
strategy and development of Groupe SNPE. About Dynamic Materials
Corporation Based in Boulder, Colorado, Dynamic Materials
Corporation is a leading international metalworking company. Its
products include explosion-bonded clad metal plates and other metal
fabrications for use in a variety of industries, including
petrochemicals, refining, hydrometallurgy, aluminum smelting and
shipbuilding. The Company operates two business segments: the
Explosive Metalworking Group, which uses proprietary explosive
processes to fuse dissimilar metals and alloys, and AMK Welding,
which utilizes various technologies to weld components for use in
power-generation turbines, as well as commercial and military jet
engines. With more than 30 years of international experience, DMC
has captured a commanding share of the worldwide market for
explosion-bonded clad metals. For more information, visit the
Company's website at http://www.dynamicmaterials.com/ . Except for
the historical information contained herein, this news release
contains forward-looking statements that involve risks and
uncertainties including, but not limited to, the following: the
ability to obtain new contracts at attractive prices; the size and
timing of customer orders; fluctuations in customer demand;
competitive factors; the timely completion of contracts; the timing
and size of expenditures; the timely receipt of government
approvals and permits; the adequacy of local labor supplies at the
Company's facilities; the availability and cost of funds; and
general economic conditions, both domestically and abroad; as well
as the other risks detailed from time to time in the Company's SEC
reports, including the report on Form 10-K for the year ended
December 31, 2004. DATASOURCE: Dynamic Materials Corporation
CONTACT: Geoff High of Pfeiffer High Investor Relations, Inc.,
+1-303-393-7044 Web site: http://www.dynamicmaterials.com/
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