The company will also undergo a stock ticker change and do a 10-1 forward split to increase liquidity (New ticker come Monday ADVC). It's a proverbial tri-fecta for current shareholders and will provide a chance for investors to grab a piece of a stock that is not just growing, but rewarding current loyal investors via cash distributions.
AVEE issued a $.14 cash dividend to shareholders of record last year around this same time. The difference this year is the dividend has more than doubled in size. This is representative of a growing company that was able to not only survive the worst economic conditions of our lifetime, but to thrive as evidence by the large cash dividend. The numbers are truly amazing and the Guru is still curious why this stock sits below $3 a share, which is its fair value in my opinion, just based on EPS and revenue growth. Factor in two huge cash dividends and this stock deserves to be trading and much, much higher levels. We'll let the market do the talking coming Monday after today's news gets digested over the weekend. AVEE closed at $1.39 a share today, and is trading in a narrow range, which will more than likely change come Monday.
We hope some of you were able to take advantage after reading some of our AVEE posts and snared a few AVEE shares before the dividend news hit the wires after the bell today (news release is below). For those of you looking for a solid, cash flow positive company, that is growing and giving back to its shareholders at a 22% annual clip, than ADVC is your stock.
DAYTON, Ohio, Oct 30, 2009 /PRNewswire-FirstCall via COMTEX/ -- Advant-e Corporation (OTC Bulletin Board:
In addition, the Company requested, and was granted, a change to the Company's trading symbol from AVEE to ADVC effective on Monday, November 2, 2009.
Jason K. Wadzinski, Chairman, Chief Executive Officer, and President, remarked, "The purpose of the cash dividend is to reward the Company's shareholders, many of whom have been shareholders for a very long time, and to enable them to likely take advantage of favorable Federal income tax treatment that is scheduled to expire at the end of 2010. The cash dividend for shareholders who hold the stock long enough to receive all three installments represents a 21% return on investment based on the most recent closing price of the Company's stock of $1.39.
"The purpose of the ten-for-one stock split is to increase the number of shares available in the public float to provide the potential for additional market liquidity for our stock," continued Mr. Wadzinski.
About Advant-e Corporation
Advant-e, via its wholly owned subsidiaries Edict Systems, Inc. and Merkur Group, Inc. is a provider of internet-based hosted Electronic Data Interchange (EDI) and electronic document management software and services. The Company helps businesses automate manual, paper-intensive processes via expanded use of EDI or by integrating directly with ERP/MRP systems.
Additional information about Advant-e Corporation can be found at http://www.advant-e.com/, http://www.edictsystems.com/, and http://www.merkurgroup.com/, or by contacting investor relations at (937) 429-4288. The company's email is firstname.lastname@example.org.
The information in this news release includes certain forward looking statements that are based upon assumptions that in the future may prove not to have been accurate and are subject to significant risks and uncertainties, including statements to the future financial performance of the company. Although the company believes that the expectations reflected on its forward looking statements are reasonable, it can give no assurance that such expectations or any of its forward-looking statements will prove to be correct. Factors that could cause results to differ include, but are not limited to, successful performance of internal plans, product development and acceptance, the impact of competitive services and pricing, or general economic risks and uncertainties.
SOURCE Advant-e Corporation