Cemtrex (CMTX) in the Spotlight as Company Pays First Dividend; CEO States Confidence in Cash Flow

Cemtrex Inc. (NASDAQ:CETX) on April 18  is rising 3.50% in light trading to $3.50 on midday Wednesday, after the company said it will pay its first cash dividend of $1.

According to MarketWatch, New York-based company will pay the dividend to shareholders of record as of March 31. “We have sufficient cash flow and confidence in the future to give us comfort that we can afford to fund both a dividend and our ongoing acquisition program,” CEO Saagar Govil reportedly said in the report.

Last week, Cemtrex Inc. (NASDAQ:CETX) bagged multi-million dollar order from its newest client HBH GmbH. The latter tapped on Cemtrex to build electronic components for high-power HF amplifiers to be used in the FRIB particle accelerator at Michigan State University.

Meanwhile, Cemtrex also received a $1.5 million order from a client in the nonwoven fabric industry. The project will start onsite in late March and continue through much of the summer months, encompassing all disciplines: Rigging/Millwrighting, Optical Alignment, Process Piping, Electrical, Transportation, and Fabrication with one single-source entity, company said.

Cemtrex provides electronic manufacturing services of printed circuit board assemblies, provides instruments for industrial processes, and provides industrial environmental control systems.

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The Bottom Line

Cemtrex Inc. (NASDAQ:CETX) is in the spotlight after the company said it is paying its first-ever dividend of $1 to its shareholders of record as of March 31. For further reading, here are 10 best-selling consumer electronic devices in the world.