IPG Photonics Announces a $0.65 Per Share One-Time Special Dividend
OXFORD, Mass.--(BUSINESS WIRE)--
IPG
Photonics Corporation (NASDAQ: IPGP) today announced that its Board
of Directors approved a $0.65 per share one-time special cash dividend
on its outstanding common stock payable on or about December 28, 2012 to
stockholders of record at the close of business on December 21, 2012.
"Given our confidence in the Company's long-term growth prospects, our
strong balance sheet and additional cash generated this year, the Board
decided to reward our shareholders with a one-time special cash
dividend," said Chairman and Chief Executive Officer Dr. Valentin
Gapontsev. "We will continue to have sufficient capital to fund our
growth strategy, including new product launches and complementary
acquisitions. With the possibility of tax increases on dividends, this
dividend provides a tax efficient opportunity to return capital to all
our shareholders."
About IPG Photonics Corporation
IPG
Photonics Corporation is the world leader in high-power fiber lasers
and amplifiers. Founded in 1990, IPG pioneered the development and
commercialization of optical fiber-based lasers for use in diverse
applications, primarily materials
processing. Fiber lasers have revolutionized the industry by
delivering superior performance, reliability and usability at a lower
total cost of ownership compared with conventional lasers, allowing end
users to increase productivity and decrease operating costs. IPG has its
headquarters in Oxford, Massachusetts, and has additional plants and
offices throughout the world. For more information, please visit www.ipgphotonics.com.
Safe Harbor Statement
Information and statements provided by the Company and its employees,
including statements in this press release, that relate to future plans,
events or performance are forward-looking statements. These statements
involve risks and uncertainties. Any statements in this press release
that are not statements of historical fact are forward-looking
statements, including, but not limited to, the Board's confidence in
IPG's long-term growth prospects; the belief that IPG will have
sufficient capital to fund its growth strategy, including new product
launches and complementary acquisitions; and the possibility of tax
increases on dividends. Factors that could cause actual results to
differ materially include risks and uncertainties, including risks
associated with the strength or weakness of the business conditions in
industries and geographic markets that the Company serves, particularly
the effect of economic downturns; reduction in customer capital
expenditures; potential order cancellations and push-outs and financial
and credit market issues; the Company's ability to penetrate new
applications for fiber lasers and increase market share; the rate of
acceptance and penetration of IPG's products; effective management of
growth; level of fixed costs from its vertical integration; intellectual
property infringement claims and litigation; interruption in supply of
key components, including from transportation disruptions from natural
and man-made events; manufacturing risks; inventory write-downs; foreign
currency fluctuations; competitive factors, including declining average
selling prices; building and expanding field service and support
operations; uncertainties pertaining to customer orders; demand for
products and services; development of markets for the Company's products
and services; and other risks identified in the Company's SEC filings.
Readers are encouraged to refer to the risk factors described in the
Company's Annual Report on Form 10-K (filed with the SEC on February 27,
2012) and its periodic reports filed with the SEC, as applicable. Actual
results, events and performance may differ materially. Readers are
cautioned not to rely on the forward-looking statements, which speak
only as of the date hereof. The Company undertakes no obligation to
update the forward-looking statements that may be made to reflect events
or circumstances after the date hereof or to reflect the occurrence of
unanticipated events.
IPG Photonics Corporation
Tim Mammen, 508-373-1100
Chief
Financial Officer
or
Sharon Merrill
Dennis Walsh,
617-542-5300
Senior Consultant
Source: IPG Photonics Corporation
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