ROYAL OAK — On Wednesday, Bonal International Inc. (OTC: BONL) for the third time this fiscal year announced a dividend of 10 cents a share, setting a fiscal year dividend record of 30 cents a share for the company.
This is the twelfth dividend paid by Bonal International in the last eight consecutive fiscal years.
The dividend is payable on Dec. 21 to shareholders of record as of the close of business on Dec. 17.
“Due to the uncertainty of the tax situation in the coming year and following a record net income in the second quarter, the board of directors elected to move a dividend that would have been issued in calendar year 2013 ahead to be paid before the end of this calendar year,” said chairman A. George Hebel III.
Hebel added that in the future, the Bonal board will continue to evaluate the company’s dividend policy on a quarterly basis.
Bonal International, through its subsidiary Bonal Technologies Inc., provides sub-harmonic vibratory stress relief and weld conditioning technology that achieves many of the same results as heat treating metals, at a fraction of the cost and energy use.
Bonal provides three lines of equipment -– Meta-Lax Stress Relief and Weld Conditioning, Pulse Puddle Arc Welding and Black Magic Distortion Control, which are sold in the United States and more than 50 countries worldwide.
Headquartered in Royal Oak, Bonal serves the aerospace, armament, automotive, petroleum, die casting, mining, racing, machine tool building, mold making, ship building, and welding industries. \
Bonal’s patented Meta-Lax technology is used for eliminating thermal stress in metal parts, thereby preventing warping and cracking.
More at www.Bonal.com or by calling 1-800-Meta-Lax.