Comtech Telecommunications Corp. Declares $0.10 Per Common Share Quarterly Cash Dividend

Rhea-AI Summary

Comtech Telecommunications Corp. (CMTL) declared a quarterly cash dividend of $0.10 per share, payable on February 17, 2023, to shareholders of record on January 18, 2023. This marks the company's fiftieth consecutive quarterly dividend. The continuation of future dividends depends on compliance with financial covenants in the secured credit facility and approval from the Board, along with the voting rights of Series A Convertible Preferred Stock holders. Comtech is a global leader in communications solutions.

Positive

• Fiftieth consecutive quarterly dividend announced, indicating consistent shareholder return.

Negative

• Future dividends are contingent upon compliance with financial covenants, raising concerns about long-term sustainability.

MELVILLE, N.Y.--(BUSINESS WIRE)-- December 8, 2022 -- Comtech Telecommunications Corp. (Nasdaq: CMTL) announced today that its Board of Directors declared a quarterly cash dividend of $0.10 per share, payable on February 17, 2023, to shareholders of record at the close of business on January 18, 2023. The dividend is the Company’s fiftieth consecutive quarterly dividend. Future Common Stock dividends remain subject to compliance with financial covenants under the Company's secured credit facility as well as Board approval and certain voting rights of holders of our Series A Convertible Preferred Stock.

Comtech is a leading global provider of satellite and space communications and terrestrial and wireless network infrastructures to commercial and government customers around the world. Headquartered in Melville, New York and with a passion for customer success, Comtech designs, produces and markets advanced and secure wireless solutions. For more information, please visit www.comtech.com.

Certain information in this press release contains statements that are forward-looking in nature and involve certain significant risks and uncertainties. Actual results could differ materially from such forward-looking information. The Company's Securities and Exchange Commission filings identify many such risks and uncertainties. Any forward-looking information in this press release is qualified in its entirety by the risks and uncertainties described in such Securities and Exchange Commission filings.

PCMTL

View source version on businesswire.com: https://www.businesswire.com/news/home/20221208005942/en/

Investor Relations

Robert Samuels

631-962-7102

robert.samuels@comtech.com

Source: Comtech Telecommunications Corp.

FAQ

What is the upcoming dividend amount for CMTL?

Comtech Telecommunications Corp. has declared a quarterly cash dividend of $0.10 per share.

When will the CMTL dividend be paid?

The dividend will be paid on February 17, 2023.

What is the record date for the CMTL dividend?

The record date for the dividend is January 18, 2023.

How many consecutive dividends has CMTL paid?

Comtech has paid a total of fifty consecutive quarterly dividends.

Are future dividends for CMTL guaranteed?

No, future dividends are subject to compliance with financial covenants and Board approval.