Apparel merchandiser Veltex to pay dividend in March
22 Feb '06
2 min read
Apparel retailer Veltex Corporation is pleased to announce that further to its December 19, 2005 Press Release, a stock dividend will be paid on March 30, 2006 to the Issuer's shareholders of-record as of 3:00 o'clock pm Mountain Standard Time on February 28, 2006, at the rate of 1 share for every ten shares held of record.
Javeed Matin, CEO of Veltex Corporation, stated "This stock dividend is the result of Veltex's consistent financial performance and the optimistic outlook for the ongoing operation of the Company.
They will continue to strive to increase shareholder value and they appreciate shareholder support over the past several years as they expanded operations globally. "
Certificates representing the dividend shares will be mailed via first class mail by the Issuer to shareholders entitled to receive the dividend at their of-record addresses.
Certificates to be issued in respect of shareholders who hold unrestricted shares will be issued free of any restricted legend; certificates to be issued in respect of shareholders who hold restricted shares will be issued with the standard form restrictive legend utilized by the Issuer's transfer agent stamped on them.
In the event an of-record shareholder holds both unrestricted and restricted shares, the share dividend will be applied separately to such positions.
Veltex Corporation is a vertical manufacturing import and distribution company composed of four divisions: Veltex Apparel, specializing in apparel and apparel accessories for the Promotional Products Industry and distribution/supplying of merchandise in the US market.
Veltex-Explorer Inc a manufacturing, import and supplying company for the Promotional Products Industry in Canada.
Velvet Textile Mills, specializing in the manufacture of high quality fabrics including 100 percent cotton twill, denim, and sheeting for consumer and industrial products.
And KCA Garment Industries, specializing in the manufacture of garments.
marketing@alchempro.com
