FARMINGDALE, N.Y.--(BUSINESS WIRE)--Cemtrex, Inc. (NasdaqCM: CETX, CETXP, CETXW), a global diversified industrial and manufacturing company, today announced that the company will pay its first dividend on Series 1 preferred stock in cash, which is due on March 31, 2017, to the holders of record on close of business on March 24, 2017.
The Company has 1,735,858 Series 1 preferred shares outstanding as a result of a completed rights offering, in which the Company sold units to shareholders, that consisted of one share of Series 1 preferred stock, paying cumulative dividends at the rate of 10 percent of the purchase price per year, and two Series 1 warrants, each to purchase one share of Cemtrex’s common stock at $6.31 per share for a period of five years after the January 20, 2017, closing of the offering.
Cemtrex, Inc., is a global, diversified industrial and manufacturing company that provides a wide array of solutions to meet today’s technology challenges and is rapidly growing through acquisitions. Cemtrex provides manufacturing services of advanced custom engineered electronics, industrial contracting services, monitoring instruments for industrial processes and environmental compliance, and equipment for controlling particulates, hazardous pollutants and Greenhouse gases used in carbon trading globally. For more information, please visit www.cemtrex.com.
Cautionary Note Regarding Forward-Looking Statements
Except for historical information, the matters set forth herein that are forward-looking statements involve certain risks and uncertainties that could cause actual results to differ. Potential risks and uncertainties include, but are not limited to, Cemtrex's expectations and beliefs regarding the unpredictability and cost of litigation, changes in the trading market for our securities, and general economic and market condition;, and the other risk factors set forth from time to time in our filings with the SEC, including our Annual Report on Form 10-K for the fiscal year ended September 30, 2016, and the Company's periodic filings with the SEC, copies of which are available free of charge at the SEC's website at www.sec.gov or upon request to Cemtrex. All forward-looking statements herein reflect our opinions only as of the date of this release. These statements are not guarantees of future performance, and actual results could differ materially from our current expectations. Cemtrex undertakes no obligation, and expressly disclaims any obligation, to update forward-looking statements herein in light of new information or future events, except as required by federal securities laws.