Propellus Initiates Corporate Dividend Policy

Rhea-AI Summary

Propellus Inc. (PRPS) adopts new dividend policy to distribute 50% of monthly free cash flow to common shareholders, aiming to reward investors while supporting corporate growth.

RED BANK, NJ / ACCESSWIRE / March 21, 2024 / Propellus Inc., an Oklahoma corporation, (OTC PINK:PRPS), an alternative finance company that specializes in assisting small businesses with their cash flow needs, announced today that its Board of Directors has adopted a new corporate dividend policy to provide for cash distributions to its common shareholders. Under the terms of this policy, Propellus plans to distribute, in cash, 50% of monthly free cash flow, on a quarterly basis, to its common shareholders.

"We are pleased to institute this new dividend policy that is intended to reward our shareholders for their continued confidence and faith in Propellus and its future, while allowing the Company to reinvest the remainder into future corporate growth" stated Ralph Johnson, CEO. "With the previously announced cancellation of 5.5 million common shares held by management, we are hopeful that we will be able to provide our common shareholders with meaningful cash distributions in the future."

About Propellus Inc.: Propellus Inc., is engaged in offering small businesses a variety of financing alternatives ranging in amounts between $20,000-$125,000. Such financings include: payroll advances directly and through third-party professional employer organizations, merchant cash advances, accounts receivable factoring, short-term line of credit loans, and other types of loan products and cash flow financing.

Contact:

Propellus Investor Relations
(212) 220-9755
info@propelluscorp.com

SOURCE: Propellus, Inc.

View the original press release on accesswire.com

FAQ

What is the ticker symbol for Propellus Inc.?

The ticker symbol for Propellus Inc. is PRPS.

What type of company is Propellus Inc.?

Propellus Inc. is an alternative finance company that specializes in assisting small businesses with their cash flow needs.

What is the new corporate dividend policy adopted by Propellus Inc.?

Propellus Inc. has adopted a new dividend policy to distribute 50% of monthly free cash flow, on a quarterly basis, to its common shareholders.

Who is the CEO of Propellus Inc.?

Ralph Johnson is the CEO of Propellus Inc.

What was the action taken regarding common shares held by management?

5.5 million common shares held by management were cancelled by Propellus Inc.