Northern Technologies International Corporation Announces Quarterly Cash Dividend

Rhea-AI Summary

Northern Technologies International Corporation (NASDAQ: NTIC) has announced a quarterly cash dividend of $0.07 per share, marking a 7.7% increase from the prior rate of $0.065. The dividend is set to be paid on November 17, 2021, to stockholders of record as of November 3, 2021.

NTIC specializes in developing environmentally beneficial products, particularly corrosion prevention solutions marketed under the ZERUST® brand, and bio-based resins under the Natur-Tec® brand, serving over 60 countries.

Positive

• Quarterly dividend increased by 7.7% to $0.07, indicating financial strength and commitment to shareholders.
• Continued market expansion into the oil and gas industry demonstrates growth potential.

Negative

• None.

Quarterly Dividend Increased 7.7% to $0.07 Per Share

MINNEAPOLIS, Oct. 20, 2021 (GLOBE NEWSWIRE) -- Northern Technologies International Corporation (NASDAQ: NTIC), a leading developer of corrosion inhibiting products and services, as well as bio-based and biodegradable polymer resin compounds, today announced that the Board of Directors declared a regular quarterly cash dividend of $0.07 per share, a 7.7% increase from its previous quarterly dividend rate of $0.065 per share. The cash dividend will be payable on November 17, 2021, to stockholders of record at the close of business on November 3, 2021.

About Northern Technologies International Corporation
Northern Technologies International Corporation develops and markets proprietary environmentally beneficial products and services in over 60 countries either directly or via a network of subsidiaries, joint ventures, independent distributors and agents. NTIC’s primary business is corrosion prevention marketed primarily under the ZERUST® brand. NTIC has been selling its proprietary ZERUST® rust and corrosion inhibiting products and services to the automotive, electronics, electrical, mechanical, military and retail consumer markets for over 45 years and in recent years has targeted and expanded into the oil and gas industry. NTIC offers worldwide on-site technical consulting for rust and corrosion prevention issues. NTIC’s technical service consultants work directly with the end users of NTIC’s products to analyze their specific needs and develop systems to meet their technical requirements. NTIC also markets and sells a portfolio of bio-based and biodegradable polymer resins and finished products marketed under the Natur-Tec® brand.

Investor and Media Contacts:
Matthew Wolsfeld, CFO                                        
NTIC                                                        
(763) 225-6600 

FAQ

What is the new dividend amount for NTIC?

The new quarterly dividend amount for NTIC is $0.07 per share.

When is the dividend payment date for NTIC?

The dividend payment date for NTIC is November 17, 2021.

What was the percentage increase in NTIC's dividend?

The dividend increased by 7.7% from the previous rate.

Who is eligible for the NTIC dividend?

Stockholders of record at the close of business on November 3, 2021, are eligible for the dividend.