Syndication Inc. CEO asked Board of Directors to Vote on Share Dividend
07 August 2009 - 12:38AM
PR Newswire (US)
DAMASCUS, Md., Aug. 6 /PRNewswire-FirstCall/ -- Syndication Inc.,
(Pink Sheets: SYNJ), reports that on August 5th 2009, The Company's
Board approved the CEO's request to take the necessary steps to
issue a shareholder dividend in the form of the Company's Common
Stock. "The exact terms of the dividend have not been decided at
this time however, I anticipate that it will be a restricted stock
dividend and will range from 1% to 4%, with a Record Date from 30
to 60 days following the Official Declaration Date. I intend to
evaluate the process and have a Dividend Declaration Date for the
BOD to vote on by mid next week. I am excited that the board has
approved my request for this action and grateful that the Company
can do this for its strongest supporters," said Brian Sorrentino,
the CEO of Syndication. The Company reported that the action of the
CEO is in line with his declaration to establish policy that
routinely pays a Stock Dividend of at least 1% on a quarterly
basis. As stated on March 1st 2009, "It will be the intent of the
Company to reward our shareholders on a quarterly basis for their
continued interest and support, as well as establishing policy
designed to encourage a longer term investment posture," said
Sorrentino. The Company indicates that more news on this and other
events is pending. This press release may contain forward-looking
statements covered within the meaning of the Private Securities
Litigation Reform Act of 1995. These forward-looking statements
relate to, among other things, plans and timing for the
introduction or enhancement of our services and products,
statements about future market conditions, supply and demand
conditions, and other expectations, intentions and plans contained
in this press release that are not historical fact and involve
risks and uncertainties. Our expectations regarding future revenues
depend upon our ability to develop and supply products, which we
may not produce today and that meet defined specifications. When
used in this press release, the words "plan," "expect," "believe,"
and similar expressions generally identify forward-looking
statements. These statements reflect our current expectations. They
are subject to a number of risks and uncertainties, including, but
not limited to, changes in technology and changes in pervasive
markets. News Contact Information; Syndication Inc., Brian
Sorrentino Phone # 888-422-5515 For all mail correspondence; PO Box
503, Damascus, MD 20872 DATASOURCE: Syndication Inc. CONTACT: Brian
Sorrentino of Syndication Inc., +1- 888-422-5515
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