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8-K - CURRENT REPORT - ISSUER DIRECT CORP | isdr_8k.htm |
Exhibit 99.1
Issuer Direct Update on Quarterly Cash Dividend
MORRISVILLE, NC / ACCESSWIRE / October 11, 2018
/ Issuer Direct
Corporation (NYSE American: ISDR), an
industry-leading communications and compliance company,
today announced that its Board of Directors has determined to
suspend the quarterly cash dividend of $0.05 per share beginning
with the third quarter ended September 30, 2018, in order to fund
future opportunities of the business.
At this time, the Company's Board of Directors believes the best
use of the Company's funds is to reinvest in the business, more
specifically, investing in its technology platform and expanding
its sales and marketing team as well as acquiring complementary
businesses, products, technologies and/or assets.
"Over the last three years, the Company has returned $1.6 million
to our shareholders by way of quarterly dividends. Suspending the
dividend clearly indicates our view on the importance of investing
in our technology and sales efforts to fuel our top line growth and
using our cash to acquire strategically aligned businesses and
technologies," said Brian R. Balbirnie, Chief Executive
Officer.
Any future cash dividends must be approved by the Company's Board
of Directors and announced by the Company. Payment of future
dividends is at the discretion of the Board of Directors and will
depend upon the options available for alternative uses of cash, as
well as, the Company’s revenue, earnings, cash flow from
operations and the overall outlook for the Company's
business.
About Issuer Direct Corporation
Issuer Direct® is
an industry-leading communications and compliance company focusing
on the needs of corporate issuers. Issuer Direct's principal
platform, Platform id., empowers users by
thoughtfully integrating the most relevant tools, technologies and
services, thus eliminating the complexity associated with producing
and distributing financial and business communications.
Headquartered in RTP, NC, Issuer Direct serves more than 2,500
public and private companies in more than 18 countries. For more
information, please
visit www.issuerdirect.com.
Forward-Looking Statements
This press release contains "forward-looking statements" within the
meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended
(the "Exchange Act") (which Sections were adopted as part of the
Private Securities Litigation Reform Act of 1995). Statements
preceded by, followed by or that otherwise include the words
"believe," "anticipate," "estimate," "expect," "intend," "plan,"
"project," "prospects," "outlook," and similar words or
expressions, or future or conditional verbs, such as "will,"
"should," "would," "may," and "could," are generally
forward-looking in nature and not historical facts. These
forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause the Company's
actual results, performance, or achievements to be materially
different from any anticipated results, performance, or
achievements. The Company disclaims any intention to, and
undertakes no obligation to, revise any forward-looking statements,
whether as a result of new information, a future event, or
otherwise. For additional risks and uncertainties that could impact
the Company's forward-looking statements, please see the Company's
Annual Report on Form 10-K/A for the year ended December 31,
2017,
including but not limited to the discussion under "Risk Factors"
therein, which the Company will file with the SEC and which may be
viewed at http://www.sec.gov/.
Contact:
Brian R. Balbirnie
Issuer Direct Corporation
919-481-4000
brian.balbirnie@issuerdirect.com
Brett Maas
Hayden IR
(646) 536-7331
brett@haydenir.com
James Carbonara
Hayden IR
(646)-755-7412
james@haydenir.com
SOURCE: Issuer Direct
Corporation