Circuit Issues Special Dividend

Circuit Inc CRCT said its Board of Directors, through its Audit Committee, has declared a special, one-time cash dividend of $0.35 per share.
The dividend is payable on February 15, 2023, to stockholders of record at the close of business on February 1, 2023.
The aggregate amount of the cash payment to be made in connection with this special dividend will be approximately $77 million.
In addition, holders of restricted stock units that are unvested on the record date will be credited with a dividend equivalent based on the value of the per share dividend.
“We believe that our current and expected future cash flows are more than sufficient to fund key product development and investments for future growth,” said CFO Kimball Shill.
The company held $198 million in cash and equivalents at the end of Q3.
Price Action: CRCT shares are trading higher by 3.66% at $9.35 on the last check Thursday.