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

Rhea-AI Summary

Comtech Telecommunications Corp. (NASDAQ: CMTL) announced a quarterly cash dividend of $0.10 per share, payable on August 19, 2022. Shareholders of record by July 20, 2022 will receive this payment, marking the company's forty-eighth consecutive quarterly dividend. Future dividends depend on compliance with financial covenants under the secured credit facility, as well as Board approval and voting rights of Series A Convertible Preferred Stock holders.

Positive

• Quarterly cash dividend of $0.10 per share declared.
• Forty-eighth consecutive quarterly dividend.

Negative

• Future dividends are contingent on financial covenants and Board approval.

MELVILLE, N.Y.--(BUSINESS WIRE)-- June 9, 2022-- Comtech Telecommunications Corp. (NASDAQ: CMTL) announced today that its Board of Directors declared a quarterly cash dividend of $0.10 per common share, payable on August 19, 2022, to shareholders of record at the close of business on July 20, 2022. The dividend is the Company’s forty-eighth 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 Telecommunications Corp. is a leading global provider of next-generation 911 emergency systems and secure wireless communications technologies 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/20220609005903/en/

Investor Contact

Robert Samuels

robert.samuels@comtech.com

(631) 962-7102

Source: Comtech Telecommunications Corp.

FAQ

What is the dividend amount announced by Comtech Telecommunications Corp. (CMTL)?

The announced dividend amount is $0.10 per share.

When will the dividend be paid to shareholders of CMTL?

The dividend will be paid on August 19, 2022.

What is the record date for receiving the CMTL dividend?

The record date for the dividend is July 20, 2022.

How many consecutive dividends has Comtech Telecommunications Corp. paid?

Comtech has paid forty-eight consecutive quarterly dividends.

Are future dividends from CMTL guaranteed?

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