BK Technologies suspends dividend to direct resources on company growth
BK Technologies (NYSE:BKTI) announced on Thursday the suspension of the company's quarterly cash dividend of $0.03/share until further notice.
The company took this action as it believes all of its available resources should be focused on delivering on the strong demand it is experiencing with the BKR 5000, in preparation for the formal launch of the BKR 9000, and to support the continued launch of its first SaaS offering, InteropONE with new customers.
Kyle Cerminara, chairman of BK Technologies board, said: "We believe that suspending our dividend at this time is in the best interest of the Company and shareholders as it allows us to invest our capital in the development and marketing of products and technologies that we believe will generate higher long-term shareholder returns."
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