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DRA announces 10 cent cash dividend

Press Release: Data Research Associates, Inc. [November 21, 1996]

Copyright (c) 1996 Data Research Associates, Inc.


St. Louis, Missouri, November 21, 1996 -- Data Research Associates, Inc. (NASDAQ: DRAI) announced today that its Board of Directors authorized a regular, annual 10 cent per share cash dividend. This dividend has a record date of December 6 and a payment date of January 10, 1997. If a shareholder is contemplating a sale from the record date to the payment date, he or she should contact his or her broker as to his or her entitlement to the cash dividend.

"This annual dividend will provide a regular cash return to our shareholders," said Michael J. Mellinger, President and CEO. "At the same time, we continue to have excellent financial resources for expanding our operations and for our ongoing strategy of aggressively pursuing acquisitions -- in our core library automation marketplace, in Internet-related businesses through which we can exploit our networking competencies, and in other complementary businesses. Our current cash and short-term investment position is in excess of $15 million with no debt, and we continue to generate excellent cash flow from operations." Following a 3-for-2 stock split in the form of a 50% stock dividend issued in August of 1996, DRA has approximately 5.5 million shares outstanding. DRA, headquartered in St. Louis, is a leading systems integrator for libraries and other information providers, offering its own proprietary information services software; third-party software and hardware; Internet, World Wide Web and other networking services; and other related support services. Its World Wide Web page is located at http://www.dra.com.

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Publication Year:1996
Type of Material:Press Release
Language English
Issue:November 21, 1996
Publisher:Data Research Associates, Inc.
Place of Publication:St. Louis, MO
Company: Data Research Associates, Inc.
Online access:http://www.dra.com/news/1996/961121.html
Record Number:6238
Last Update:2012-12-29 14:06:47
Date Created:0000-00-00 00:00:00