Consumers Financial Corporation Board of Directors Vote on Dividend to Preferred Shareholders.Business Editors CEDARHURST, N.Y.--(BUSINESS WIRE)--Feb. 3, 2003 Consumers Financial Corporation (the "Company") at its January January: see month. 29, 2003 Board of Directors meeting voted not to declare a dividend on behalf of the outstanding preferred shareholders for the first quarter of 2003. In light of the above the Board of Directors is exploring different avenues to repurchase re·pur·chase tr.v. re·pur·chased, re·pur·chas·ing, re·pur·chas·es To buy (something) again. n. The act of buying something that one previously sold or owned. Noun 1. the outstanding preferred shares Preferred shares Preferred shares give investors a fixed dividend from the company's earnings and entitle them to be paid before common shareholders. See: Preferred stock. . The Board of Directors believe at this time it is imperative to conserve cash as the company makes its transition back to an operating entity. Anyone who desires any further detail with respect to this matter may reach the Company at 516/792-0900. Information in this press release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. that involve risks and uncertainties that might adversely affect the Company's operating results in the future to a material degree. Such risks and uncertainties include, without limitation, the ability of the Company to raise capital to finance acquisitions and/or and/or conj. Used to indicate that either or both of the items connected by it are involved. Usage Note: And/or is widely used in legal and business writing. mergers contemplated, and the establishments of an efficient corporate operating structure as the Company grows. |
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