ORBIT INTERNATIONAL CORP. ANNOUNCES SPECIAL ANNUAL CASH DIVIDEND OF $0.04 PER COMMON SHARE
COMPANY ANNOUNCES CASH DIVIDEND OF $0.01 PER COMMON SHARE FOR THE FIRST QUARTER OF 2020
Hauppauge, New York, March 5, 2020 — Orbit International Corp. (OTC PINK:ORBT), an electronics manufacturer and software solution provider, announced today that its Board of Directors, based on the Company’s 2019 financial performance and current financial condition, has declared a special annual cash dividend of $0.04 per share. In addition, the Company’s Board of Directors also declared a quarterly cash dividend of $0.01 per share. Both declared dividends are payable to shareholders of record as of March 31, 2020 with a payment date of April 7, 2020.
Orbit International Corp., through its Electronics Group, including its recently acquired Q-Vio subsidiary, is involved in the development and manufacture of custom electronic device and subsystem solutions for military, industrial and commercial applications through its production facility in Hauppauge, New York. Orbit’s Power Group, also located in Hauppauge, NY, designs and manufactures a wide array of power products including AC power supplies, frequency converters, inverters, uninterruptible power supplies, VME/VPX power supplies as well as various COTS power sources. The Company also has a sales office in Bradenton, FL.
Certain matters discussed in this news release and oral statements made from time to time by representatives of the Company including, statements regarding our expectations of Orbit’s operating plans, deliveries under contracts and strategies generally; statements regarding our expectations of the performance of our business; expectations regarding costs and revenues, future operating results, additional orders, future business opportunities and continued growth, may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and the Federal securities laws. Although Orbit believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that its expectations will be achieved.
Forward-looking information is subject to certain risks, trends and uncertainties that could cause actual results to differ materially from those projected. Many of these factors are beyond Orbit International’s ability to control or predict. Important factors that may cause actual results to differ materially and that could impact Orbit International and the statements contained in this news release can be found in Orbit’s reports posted with the OTC Disclosure and News service. For forward-looking statements in this news release, Orbit claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. Orbit assumes no obligation to update or supplement any forward-looking statements whether as a result of new information, future events or otherwise.
Chief Financial Officer