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Article: Andean Development Corp. Declares Special Dividend to Stockholders of Record Oct. 31, 1998.
- Article from:
- Business Wire
- Article date:
- October 1, 1997
CopyrightCOPYRIGHT 1997 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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BOCA RATON, Fla.--(BUSINESS WIRE)--Oct. 1, 1997--Andean Development Corp. (NASDAQ:ADCC) based in Boca Raton, announced Wednesday that it has declared a special dividend to stockholders of record Oct. 31, 1997.
The dividend of 20 cents per share will be payable in two tranches, Dec. 31, 1997 and March 31, 1998. Pedro Errazuriz, chairman and CEO of Andean, also announced that he intends to reinvest the dividends that he personally receives, based on his ownership of Andean stock, back into the company.
"We are committed to rewarding our shareholders as revenues and profits improve, and this dividend is evidence of the company's strong financial and ...