SilverSun Technologies Announces Cash Dividend

Rhea-AI Summary

SilverSun Technologies, Inc. (NASDAQ:SSNT) has declared a special cash dividend of $0.40 per share, payable on December 28, 2020, with a record date of December 21, 2020. This decision reflects the company's commitment to rewarding shareholders as it executes its business plan. However, future dividends will depend on the company's cash requirements and financial performance, emphasizing a cautious approach to distribution.

Positive

• Declared a special cash dividend of $0.40 per share, rewarding shareholders.
• Management expresses confidence in future distributions based on business conditions.

Negative

• Future dividends are contingent on cash requirements and financial performance, indicating potential limitations.
• No specific commitment to recurring dividends, introducing uncertainty for investors.

EAST HANOVER, NJ / ACCESSWIRE / December 10, 2020 / SilverSun Technologies, Inc. (NASDAQ:SSNT), a national provider of transformational business technology solutions and services, today announced that its Board of Directors has declared a special cash dividend on the Company's common stock of $0.40 per share. The record date will be December 21, 2020, and the payment date will be December 28, 2020.

"As we continue to execute on our business plan, we believe this special cash dividend is an appropriate way to reward our shareholders for their support," commented Mark Meller, Chairman and Chief Executive Officer of the Company. "We are fortunate to be able to share the financial success of the Company with our owners, and look forward to more such distributions in the future, business conditions permitting."

The payment of future dividends, if any, will be subject to SilverSun's cash requirements. The Company's board of directors will assess any future dividend payout levels in light of the Company's financial performance and its current and anticipated business needs at such time.

Additional information regarding SilverSun Technologies is available on the Company website at www.silversuntech.com.

About SilverSun Technologies, Inc.

We are a business application, technology and consulting company providing software and IT solutions to meet our clients' information, technology and business management needs. Our services and technologies enable customers to manage, protect and monetize their enterprise assets whether on-premise or in the "cloud". As a value-added reseller of business application software, we offer solutions for accounting and business management, financial reporting, Enterprise Resource Planning ("ERP"), Warehouse Management Systems ("WMS"), Customer Relationship Management ("CRM"), Business Intelligence ("BI") and other business applications. Our value-added services focus on consulting and professional services, specialized programming, training, and technical support. We have a dedicated network managed services practice that provides cybersecurity, application hosting, disaster recovery, business continuity, cloud and other services. Our customers are nationwide, with concentrations in the New York/New Jersey metropolitan area, Chicago, Arizona, Southern California, North Carolina, Washington and Oregon.

Forward-Looking Statements

This news release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended, regarding, among other things our plans, strategies and prospects -- both business and financial. Although we believe that our plans, intentions and expectations reflected in or suggested by these forward-looking statements are reasonable, we cannot assure you that we will achieve or realize these plans, intentions or expectations. Forward-looking statements are inherently subject to risks, uncertainties and assumptions. Many of the forward-looking statements contained in this news release may be identified by the use of forward-looking words such as "believe," "expect," "anticipate," "should," "planned," "will," "may," "intend," "estimated," and "potential," among others. Important factors that could cause actual results to differ materially from the forward-looking statements we make in this news release include market conditions and those set forth in reports or documents that we file from time to time with the United States Securities and Exchange Commission. All forward-looking statements attributable to SilverSun Technologies, Inc. or a person acting on its behalf are expressly qualified in their entirety by this cautionary language.

Contact:

Corporate
Mark Meller
SilverSun Technologies, Inc.
973-758-6108
meller@silversuntech.com

SOURCE: SilverSun Technologies, Inc.

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https://www.accesswire.com/620404/SilverSun-Technologies-Announces-Cash-Dividend

FAQ

What is the amount of the special cash dividend declared by SilverSun Technologies?

SilverSun Technologies declared a special cash dividend of $0.40 per share.

When is the record date for the SilverSun Technologies dividend?

The record date for the dividend is December 21, 2020.

When will the dividend be paid to shareholders?

The dividend will be paid on December 28, 2020.

Are future dividends guaranteed for SilverSun Technologies?

Future dividends are not guaranteed and will depend on the company's cash requirements and financial performance.

What does the special dividend indicate about SilverSun Technologies’ financial health?

The special dividend indicates confidence in financial success, but future distributions will be assessed based on business conditions.