CNS, Inc. Declares Quarterly Dividend; Announces Authorization to Repurchase One Million Shares of Common Stock.MINNEAPOLIS -- CNS See Continuous net settlement. CNS See continuous net settlement (CNS). , Inc. (Nasdaq:CNXS), the Breathe Right Breathe Right™ Sports medicine A proprietary Band-Aid™-like nasal strip worn on the nasal bridge, said to improve breathing by opening the nasal passages Indications Temporary relief of breathing difficulties due to deviated nasal (R) company, today announced that its board of directors has declared a quarterly cash dividend of six cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. of common stock. The dividend is payable on September 9, 2005, to shareholders of record on August 26, 2005. In addition, the company today announced that its board of directors authorized the repurchase of up to one million additional shares of common stock under the company's stock repurchase Stock repurchase A firm's repurchase of outstanding shares of its common stock. program. Since the beginning of the stock repurchase program in February 2002, the company has purchased approximately one million shares of its common stock. The company intends to buy back shares from time to time in market or in privately negotiated transactions using available company cash. "Due to the company's strong financial position, we are pleased to continue to reward our shareholders with a quarterly dividend, as well as announce an increase in our stock repurchase program," said Marti Morfitt, president and chief executive officer of CNS. "These actions reflect the board's confidence in the company's long-term prospects." CNS declared its first quarterly dividend in August 2003 and then raised the dividend payment in June 2004 and June 2005. Since 1997, under previously authorized stock Authorized Stock The maximum number of shares that a corporation is legally permitted to issue, as specified in its articles of incorporation. This figure is usually listed in the capital accounts section of the balance sheet. repurchase plans, the company has repurchased approximately 7.2 million shares. The company has approximately 14.1 million shares outstanding. About CNS, Inc. CNS, based in Minneapolis, designs and markets consumer health care products, including Breathe Right(R) nasal strips and FiberChoice(R) dietary fiber dietary fiber n. Coarse, indigestible plant matter, consisting primarily of polysaccharides, that when eaten stimulates intestinal peristalsis. supplements. The company focuses on products that address important consumer needs within the aging well/self-care market, including better breathing and digestive health. Its common stock is listed on the Nasdaq National Market under the ticker symbol Ticker Symbol An arrangement of characters (usually letters) representing a particular security listed on an exchange or otherwise traded publicly. When a company issues securities to the public marketplace, it selects an available ticker symbol for its securities which investors "CNXS." More information about CNS and its products is available at www.cns.com. Some of the information contained in this news release is forward-looking and subject to certain business risks as described in the company's filings with the Securities and Exchange Commission, including those referred to in its Annual Report on Form 10-K for the year ended March 31, 2005. This news release contains forward-looking statements, which involve risks and uncertainties. |
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