Universal Display Announces First Cash Dividend

Universal Display announced that its Board of Directors approved the initiation of quarterly cash dividends to its shareholders.
 
The quarterly dividend of $0.03 per share of common stock, Universal Display’s first ever dividend, will be paid on March 31, 2017, to all shareholders of record as of the close of business on March 15, 2017. Future dividends will be subject to Board approval.
 
“Today’s announcement reflects the Board of Directors’ confidence in Universal Display’s robust future growth opportunities, expected continued positive cash flow generation and commitment to return capital to our shareholders,” said Sidney D. Rosenblatt, EVP and CFO. “As the proliferation of OLEDs expands across the consumer electronics landscape, Universal Display Corporation is well positioned to benefit with its strong breadth of enabling technologies, proprietary phosphorescent materials and over 20 years of know-how and experience. As we begin to benefit from what is forecasted to be a multi-year OLED capital expenditure cycle, we believe that this is the right time for UDC to pay its first-ever cash dividend.”