ST. LOUIS--(BUSINESS WIRE)--
The Marketing Alliance, Inc. (OTC: MAAL) (“TMA” or the “Company”), today announced that its board of directors has declared a $0.07 per share special cash dividend for shareholders of record on January 4, 2019, to be paid on or about January 31, 2019. The Company intends this special cash dividend to represent a portion of what has historically been a single annual cash dividend to shareholders.
The Company also announced that it intends to change the payout timing of its annual cash dividend to shareholders from what has historically been January to on or about April, beginning in 2019, to better align the Company’s dividend payout with its fiscal year ending March 31st.
The Company plans to make an announcement regarding cash dividends for shareholders no later than April 30, 2019, subject to business and market conditions and board of directors approval.
Last year, the Company authorized a $0.23 per share cash dividend. Since 1996, when The Marketing Alliance was founded, the Company has paid an aggregate of over $13.6 million in cash dividends to shareholders. The Company has paid a dividend every year for the last 14 years and increased the amount of cash dividends paid each year.
About The Marketing Alliance, Inc.
Headquartered in St. Louis, MO, TMA operates three businesses. TMA provides support to independent insurance brokerage agencies, with a goal of providing members value-added services on a more efficient basis than they can achieve individually. The Company also owns an earth moving and excavating business and nine children’s play and party facilities. Investor information can be accessed through the shareholder section of TMA’s website at: .
TMA’s common stock is quoted on the OTC Markets () under the symbol “MAAL”.
Forward Looking Statement
Investors are cautioned that forward-looking statements involve risks and uncertainties that may affect TMA's business and prospects. Examples of forward-looking statements include, among others, statements we make regarding our intentions to declare and pay dividends in the future and our expectations for our performance during fiscal 2019 and future periods. Any forward-looking statements contained in this press release represent our estimates, expectations or intentions only as of the date hereof, or as of such earlier dates as are indicated, and should not be relied upon as representing our views as of any subsequent date. These statements involve a number of risks and uncertainties, including, but not limited to, expectations of the economic environment; material adverse changes in economic conditions in the markets we serve and in the general economy; future regulatory actions and conditions in the states in which we conduct our business; our ability to work with carriers on marketing, distribution and product development; pricing and other payment decisions and policies of the carriers in our insurance distribution business, weather and environmental conditions in the areas served by our earth moving and excavation business, the integration of our operations with those of businesses or assets we have acquired or may acquire in the future and the failure to realize the expected benefits of such acquisition and integration. While we may elect to update forward-looking statements at some point in the future, we specifically disclaim any obligation to do so.
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