Special Dividend: ZCL Composites Inc

 

Hello everyone, today I am going to share with you a special dividend announcement I received from ZCL Composites Inc.

What Is ZCL Composites Inc?

ZCL Composites is North America’s largest manufacturer and supplier of environmentally friendly fiberglass reinforced plastic underground storage tanks. Our mission is to deliver peace of mind through corrosion resistant solutions that preserve and protect the environment. ZCL has two manufacturing plants in Canada, four in the US and one in The Netherlands. The Company serves the Fuel, Water & Wastewater and Oil & Gas markets.

Source: Company Website

On May 3rd when the company reported it’s first quarter results it announced a special dividend of $0.40 per share to be paid on June 15th to shareholders of record on May 31st. Now I must admit that I was not expecting to get this announcement. I say that because if they were going to payout a special dividend i thought they would have announced it with their 2017 year earnings results when they announced a dividend increase back in March. As a shareholder I am happy to receive this extra income. This is the third year in a row that the company has paid out a special dividend back in 2016 it was $0.50 per share, in 2017 it was $0.65.

Income

I currently own 227 shares so I will receive $90.80 in June which will help me set a new all time high in dividends received in a month.

 

If you own the stock I would like to say congrats on receiving the special dividend.

Thanks for reading my post everybody.

Matthew

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