Collectors Universe, Inc. announced Tuesday that its Board of Directors has approved an increase in its quarterly cash dividend to $0.30 per share per quarter, for an expected total annua cash dividend of $1.20 per common share.
The increase will be effective beginning with the company’s quarterly cash dividend for the quarter ending June 30. The cash dividend will be paid on May 28 to stockholders of record.
Collectors Universe is the parent company of grading and authentication giants PSA and PSA/DNA.
“I can report that our board is unanimous in our appreciation of the support of our shareholders,” said Clint Allen, chairman of the company’s board of directors. “Our commitment is to produce greater shareholder value. With a very strong balance sheet and improved financial results, in October 2009 we began paying an annual dividend of $1.00 a share. While we want to continue to keep a strong cash reserve to take advantage of opportunities both within and outside the company, we are committed to rewarding our shareholders.”
“Our management team is focused on providing the finest grading and authentication services, building our strong brands and looking for additional opportunities to expand our services,” said company CEO Michael McConnell. ” We are pleased to be able to reward our shareholders as we continue to build our company.”
