Company Announces Cash Dividend of $0.01 Per Common Share for the Fourth Quarter of 2023

Rhea-AI Summary

Orbit International Corp. (ORBT) has declared a quarterly cash dividend of $0.01 per share, payable to shareholders of record as of December 31, 2023. The company is involved in the development and manufacture of custom electronic device and subsystem solutions for military, industrial, and commercial applications. Orbit’s Power Group designs and manufactures a wide array of power products.

HAUPPAUGE, New York, Dec. 07, 2023 (GLOBE NEWSWIRE) -- Orbit International Corp. (OTC Expert Market:ORBT), an electronics manufacturer and software solution provider, announced today that its Board of Directors has declared a quarterly cash dividend of $0.01 per share. The declared dividend is payable to shareholders of record as of December 31, 2023, with a payment date of January 9, 2024.

Orbit International Corp., through its Electronics Group, is involved in the development and manufacture of custom electronic device and subsystem solutions for military, industrial and commercial applications through its production facilities in Hauppauge, NY and Carson, CA. Orbit’s Power Group, also located in Hauppauge, NY, designs and manufactures a wide array of power products including AC power supplies, frequency converters, inverters, VME/VPX power supplies as well as various COTS power sources.

Certain matters discussed in this news release and oral statements made from time to time by representatives of the Company including, statements regarding our expectations of Orbit’s operating plans, deliveries under contracts and strategies generally; statements regarding our expectations of the performance of our business; expectations regarding costs and revenues, future operating results, additional orders, future business opportunities and continued growth, may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and the Federal securities laws. Although Orbit believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that its expectations will be achieved.

Forward-looking information is subject to certain risks, trends and uncertainties that could cause actual results to differ materially from those projected. Many of these factors are beyond Orbit International's ability to control or predict. Important factors that may cause actual results to differ materially and that could impact Orbit International and the statements contained in this news release can be found in Orbit's reports posted with the OTC Disclosure and News service. For forward-looking statements in this news release, Orbit claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. Orbit assumes no obligation to update or supplement any forward-looking statements whether as a result of new information, future events or otherwise.

CONTACT
David Goldman
Chief Financial Officer
631-435-8300

FAQ

What is the latest announcement from Orbit International Corp. (ORBT)?

Orbit International Corp. has declared a quarterly cash dividend of $0.01 per share.

When is the dividend payable to shareholders?

The dividend is payable to shareholders of record as of December 31, 2023, with a payment date of January 9, 2024.

What does Orbit International Corp. (ORBT) specialize in?

Orbit International Corp. is involved in the development and manufacture of custom electronic device and subsystem solutions for military, industrial, and commercial applications. The company's Power Group designs and manufactures a wide array of power products.

Where are Orbit International Corp.'s production facilities located?

Orbit International Corp.'s production facilities are located in Hauppauge, NY and Carson, CA.

What are the key products manufactured by Orbit International Corp.?

Orbit International Corp. manufactures custom electronic device and subsystem solutions for military, industrial, and commercial applications, as well as a wide array of power products through its Power Group.