Printer Friendly

GUARDSMAN PRODUCTS, INC. DECLARES CASH DIVIDEND

 GUARDSMAN PRODUCTS, INC. DECLARES CASH DIVIDEND
 GRAND RAPIDS, Mich., Aug. 11 /PRNewswire/ -- At its Aug. 11, 1992,


meeting, the directors of Guardsman Products, Inc. (NYSE: GPI) declared a third-quarter cash dividend of $.08 per share payable Sept. 22, 1992, to shareowners of record Sept. 8, 1992. While continuing the company's 75th consecutive year of cash dividends, this represents a reduction from the previous quarterly dividend rate of $.125 per share.
 Charles E. Bennett, president and chief operating officer, stated, "Based on the emergence of business opportunities in both our operating groups and the attendant required investments coupled with the fact that we see economic conditions remaining sluggish for the near future, we believe it is in the best interest of the company and our shareholders to reduce the level of our cash dividend at this time. The ability to retain funds generated from operations for reinvestment in our business and to build a solid base of retained earnings is important to maintain a strong balance sheet and will allow us to continue our steady growth in sales and earnings."
 Guardsman Products, Inc. is a diversified producer of custom industrial coatings and consumer products.
 -0- 8/11/92
 /CONTACT: Charles E. Bennett of Guardsman Products, 616-957-2600/
 (GPI) CO: Guardsman Products, Inc. ST: Michigan IN: SU: DIV


SM -- DE020 -- 9113 08/11/92 16:28 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Aug 11, 1992
Words:224
Previous Article:MOODY'S LOWERS RATING ON UTICA, N.Y. FROM 'Baa' TO 'Ba'; CITIES FISCAL DISTRESS & LACK OF DEFINITIVE LONG-TERM PLAN TO RESTORE BALANCE
Next Article:GRANT STREET OFFICER AND DIRECTOR RESIGNS
Topics:


Related Articles
GUARDSMAN PRODUCTS, INC. DECLARES REGULAR CASH DIVIDEND
GUARDSMAN PRODUCTS, INC. DECLARES REGULAR CASH DIVIDEND
GUARDSMAN PRODUCTS, INC. DECLARES REGULAR CASH DIVIDEND
GUARDSMAN PRODUCTS, INC. DECLARES REGULAR CASH DIVIDEND AND RE-ELECTS DIRECTORS
GUARDSMAN PRODUCTS, INC. DECLARES REGULAR CASH DIVIDEND
GUARDSMAN PRODUCTS, INC. DECLARES REGULAR CASH DIVIDEND
GUARDSMAN PRODUCTS, INC. DECLARES REGULAR CASH DIVIDEND
/ C O R R E C T I O N -- GUARDSMAN PRODUCTS /
GUARDSMAN PRODUCTS, INC. DECLARES REGULAR CASH DIVIDEND AND REELECTS DIRECTORS
GUARDSMAN PRODUCTS, INC. DECLARES REGULAR CASH DIVIDEND

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters