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 August.
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 that was paid in December 2012. This dividend will be distributed on Thursday, August 15, 2013, for shareholders of record as of Monday, August 12, 2013.
Ms. Momoko Beran, chief financial officer of Simulations Plus, said: “The board has decided to increase the dividend to shareholders again this quarter as a result of our excellent financial performance during the third fiscal quarter of fiscal year 2013, as reported in our 10-Q filed on July 10, 2013. We generated just under one million dollars in net income in the third quarter, and this dividend increase amounts to an addition of 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; however, the board reserves the right to use cash as the needs of the business dictate, so there can be no assurances of future dividends.”