Simulations Plus, Inc. (NASDAQ:SLP), a leading provider of simulation and modeling software for pharmaceutical discovery and development, today announced that its Board of Directors has decided to distribute a cash dividend in May.
“The Board of Directors has demonstrated that it believes in rewarding our loyal shareholders by returning a portion of our excess cash in the form of dividends. As our financial performance improves, the board will consider further increases.”
The Board of Directors declared its next ongoing quarterly cash dividend of $0.03 per share, an increase of $0.01 per share over the $0.02 per share that was planned after the accelerated dividend distribution of $0.03 per share for the expected May, August, and November 2013 distributions. This dividend will be distributed on Friday, May 10, 2013, for shareholders of record as of Tuesday, May 7, 2013.
Ms. Momoko Beran, chief financial officer of Simulations Plus, said: "The board has decided to increase the dividend to shareholders as a result of our excellent financial performance during the second fiscal quarter of fiscal year 2013, as reported in our 10-Q filed on April 10, 2013. We generated more than one million dollars in net income in the second quarter, and this dividend increase amounts to about $160,000."
Walt Woltosz, chairman and chief executive officer of Simulations Plus, added, "The Board of Directors has demonstrated that it believes in rewarding our loyal shareholders by returning a portion of our excess cash in the form of dividends. As our financial performance improves, the board will consider further increases."
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