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8-K - PRIMARY DOCUMENT - BK Technologies Corp | relm_form8k.htm |
Company Contact:
RELM Wireless Corporation
(321) 984-1414
RELM Wireless Announces Changes to Capital Return
Program
WEST MELBOURNE, FL, June 15, 2017 – RELM Wireless
Corporation (NYSE MKT: RWC), today announced that on June 14, 2017,
its Board of Directors approved the repurchase of 500,000 shares of
the Company’s common stock in addition to the 500,000 share
authorization announced on May 19, 2016, for a total repurchase
authorization of 1,000,000 shares, pursuant to a stock repurchase
plan in conformity with the provisions of Rule 10b5-1 and Rule
10b-18 promulgated under the Securities Exchange Act of 1934, as
amended (the “Repurchase Program”). The Repurchase
Program has no termination date.
In
conjunction with the increase in the stock repurchase
authorization, the Board of Directors declared a quarterly dividend
of $0.02 per share of the Company’s common stock, payable on
July 17, 2017 to shareholders of record of the Company’s
common stock as of the close of business on June 30,
2017.
The
Company also announced that it is deploying capital back into the
business to expand its already strong engineering capabilities and
salesforce. The investment in engineering is expected to further
position the Company with the highest quality and innovative
products in the marketplace. The investment in the salesforce is
expected to position the Company for higher sales and profitability
over the next few years.
Kyle
Cerminara, Chairman of the Board, said, “We believe the Board
has chosen the proper mix of a sustainable level of cash dividends
from which we can grow, a larger buyback program that will
repurchase shares at what we believe are very attractive valuations
and reinvestment in the business so that we can position RELM for
higher revenue and profitability in the future.”
About RELM Wireless Corporation
As an
American Manufacturer for almost 70 years, RELM Wireless
Corporation has produced high-specification two-way communications
equipment of unsurpassed reliability and value for use by public
safety professionals and government agencies, as well as radios for
use in a wide range of commercial and industrial applications.
Advances include a broad new line of leading digital two-way radios
compliant with APCO Project 25 specifications. RELM’s
products are manufactured and distributed worldwide under BK Radio
and RELM brand names. The Company maintains its headquarters in
West Melbourne, Florida and can be contacted through its web site
at www.relm.com or directly at 1-800-821-2900. The Company’s
common stock trades on the NYSE MKT market under the symbol
“RWC”.