Coast Distribution System Increases Quarterly Cash Dividend to $0.05 Per Share and Declares First Quarter 2006 Cash Dividend
2006年3月2日 - 11:48PM
PRニュース・ワイアー (英語)
MORGAN HILL, Calif., March 2 /PRNewswire-FirstCall/ -- The Coast
Distribution System, Inc. (AMEX:CRV), one of North America's
largest suppliers of aftermarket replacement parts, accessories and
supplies for the recreational vehicle (RV) and marine industries,
today announced that its Board of Directors has approved an
increase in the Company's regular quarterly cash dividend to $0.05
per share, or $0.20 per year. At the same time, the Board of
Directors declared the cash dividend for its first fiscal quarter
of 2006, in the amount of $0.05 per share in cash, which will be
paid on March 24, 2006 to all stockholders of record as of March
14, 2006. "The increase in the quarterly cash dividend reflects our
continued financial strength, our optimism about Coast's future
financial performance and our desire to reward our stockholders for
their loyalty," stated Thomas R. McGuire, Chairman and CEO of
Coast. "As a Company, we are committed to maximizing the value of
our stockholders' investment in Coast." About The Coast
Distribution System The Coast Distribution System, Inc.
(http://www.coastdistribution.com/ ) is one of the leading
suppliers of parts, accessories and supplies for recreational
vehicles (RVs) and pleasure boats in the U.S. and Canada. Coast
supplies its products to its 15,000 customers through 17
distribution centers throughout the U.S. and Canada. Coast is
publicly traded on the American Stock Exchange under the ticker
symbol CRV. Cautionary Statements Regarding Forward-Looking
Information The declaration of cash dividends in the future,
pursuant to the Company's dividend policy, are subject to final
determination each quarter by the Board of Directors based on a
number of factors, including the Company's financial performance
and its available cash resources. Also, it could become necessary
for the Company to obtain the consent of its lender under its
secured bank loan agreement in order to pay cash dividends in the
future. For these reasons, as well as other reasons, there can be
no assurance that dividends in the future will be equal or similar
to the amount described in this press release or that the Board of
Directors will not decide to suspend or discontinue the payment of
cash dividends in the future. Statements and comments in this news
release regarding our expectations and beliefs or our views about
our future financial performance and future financial condition are
"forward-looking statements" as defined in the Private Securities
Litigation Reform Act of 1995. Forward-looking statements often
include the words "believe," "expect," "anticipate," "intend,"
"plan," "estimate," "project," or words of similar meaning, or
future or conditional verbs such as "will," "would," "should,"
"could," or "may." The statements in this news release regarding
our future financial performance or future financial condition are
based on current information and, because our business is subject
to a number of risks and uncertainties, actual operating results in
the future may differ significantly from those expected at the
current time. Those risks and uncertainties may include, among
others: Loss of confidence among consumers regarding economic
conditions, which could adversely affect their willingness to
purchase and use their RVs and boats and which, in turn, would lead
to reductions in their purchases of the products we sell; increases
in interest rates which affect the availability and affordability
of financing for RVs and boats; increases in the prices, and
possible shortages in the supply, of gasoline which increase the
costs of using, and the willingness and ability of consumers to
use, RVs and boats; and unusually severe or extended winter weather
conditions, which can reduce the usage of RVs and boats for periods
extending beyond the ordinary winter months or to regions that
ordinarily encounter milder winter weather conditions; possible
increases in price competition within our markets that could reduce
our margins and, therefore, our earnings; our practice of obtaining
a number of our products, including several of our largest selling
products, from single manufacturing sources, which could lead to
shortages in the supply of products to us and, therefore,
reductions in our sales, in the event any single source supplier
were to encounter production or other problems; and possible
changes in supply relationships in our markets, which could lead to
increased competition or to reductions in the number of products we
are able to offer our customers. Certain of these risks and
uncertainties, in addition to other risks, are more fully described
in the Company's Annual Report on Form 10-K for the fiscal year
ended December 31, 2004, as amended by Amendment No. 1 on Form
10-K/A, and readers of this news release are urged to review the
discussion of those risks and uncertainties that are contained in
that Report. Due to these and other possible uncertainties and
risks, readers are cautioned not to place undue reliance on the
forward-looking statements contained in this news release, which
speak only as of today's date. We also disclaim any obligations to
update forward-looking statements contained in this news release or
in the above referenced 2004 Annual Report, whether as a result of
new information, future events or otherwise. DATASOURCE: The Coast
Distribution System, Inc. CONTACT: Sandra Knell, CFO of The Coast
Distribution System, Inc., +1-408-782-6686, ; or Jeff Lambert or
Ryan McGrath of Lambert, Edwards & Associates, Inc.,
+1-616-233-0500, , for The Coast Distribution System, Inc. Web
site: http://www.coastdistribution.com/
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