Contact Information: For more detailed information, please contact: Murray S. Cohen Chairman of the Board James Ivchenko President Greg Amato Chief Executive Officer (973) 465-9495
Epolin, Inc. Announces $0.04 Special Cash Dividend to Be Paid on August 7, 2008
| Source: Epolin, Inc.
NEWARK, NJ--(Marketwire - July 11, 2008) - EPOLIN, INC. (the "Company") (OTCBB : EPLN )
(www.epolin.com) today announced that its Board of Directors has declared a
special cash dividend of $0.04 per share to be payable on August 7, 2008 to
shareholders of record at the close of business on July 24, 2008.
In April 2006, the Board adopted a dividend policy under which the Company
intends to issue a regular annual cash dividend and may issue a special
cash dividend from time to time as well. Since April 2006, the Company has
paid (in addition to the special dividend being announced today) three
regular annual cash dividends of $0.02 per share which were paid in May
2006, May 2007 and May 2008. In addition, since of the adoption of the
dividend policy, a special cash dividend of $0.02 per share has been paid
in each of January 2007 and January 2008. The cash dividend being
announced today represents the first $0.04 cash dividend being paid by the
Company since the adoption of the dividend policy. Although there can be
no assurance, the Company anticipates that it will pay another special cash
dividend in January 2009 similar to the special cash dividends the Company
has paid in January of the prior two years.
Murray S. Cohen, Ph.D., Chairman of the Board, stated, "This special $0.04
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."
About Epolin
Epolin, Inc. is a specialized chemical company primarily engaged in the
manufacturing, marketing, research and development of infrared dyes, laser
absorbing dyes and infrared dye formulations. The Company's business is
heavily weighted towards the development, manufacture and sale of near
infrared dyes. Applications for these dyes cover several markets that
include laser protection, welding, sunglasses, optical filters, glazing and
imaging and security inks and tagants. The Company also manufactures
specialty chemicals for certain chemical manufacturers.
Statements contained herein that are not based upon current or historical
fact are forward-looking in nature. Such forward-looking statements reflect
the Company's expectations about its future operating results, performance
and opportunities that involve substantial risks and uncertainties. When
used herein, the words "anticipate", "believe", "estimate", "plan",
"intend" and "expect" and similar expressions, as they relate to Epolin,
Inc., or its management, are intended to identify such forward-looking
statements. These forward-looking statements are based on information
currently available to the Company and are subject to a number of risks,
uncertainties, and other factors that could cause the Company's actual
results, performance, prospects, and opportunities to differ materially
from those expressed in, or implied by, these forward-looking statements.
Factors that could cause or contribute to such differences include, but are
not limited to, such factors discussed in the Company's Annual Report on
Form 10-KSB for the fiscal year ended February 29, 2008 under the caption
"Uncertainties and Risk Factors" in Part I, Item 1 "Description of
Business". Except as required by the Federal Securities law, the Company
does not undertake any obligation to release publicly any revisions to any
forward-looking statements to reflect events or circumstances after the
date hereof or for any other reason.