Royal Oak, Mich. (PRWEB) September 25, 2012
Today, Bonal International, Inc. (OTC: BONL) announced a dividend of $0.10 per share for the second time this fiscal year. The distribution of this dividend sets an annual fiscal year record of $0.20 per share for the company. This is the eleventh dividend paid by Bonal International in the last eight consecutive fiscal years. The dividend is payable on October 15, 2012 to shareholders of record as of the close of business on October 1, 2012.
“The Board of Directors feel that Bonal is rebounding nicely from the struggling economy and our cash level can sustain another dividend of this size,” said Thomas E. Hebel interim president. The amount of this dividend matches the highest dividend previously paid.
In the future, the Bonal International Board of Directors will continue to evaluate the company’s dividend policy on a quarterly basis.
Bonal International, Inc., through its wholly owned subsidiary, Bonal Technologies, Inc., is the world’s leading provider of sub-harmonic vibratory stress relief and weld conditioning technology. Bonal provides three lines of equipment – Meta-Lax® Stress Relief and Weld Conditioning, Pulse Puddle Arc Welding®, and Black Magic® Distortion Control, which are sold in the United States and more than 50 countries worldwide. Headquartered in Royal Oak, Mich., Bonal serves the aerospace, armament, automotive, petroleum, die casting, mining, racing, machine tool building, mold making, ship building, and welding industries. Bonal’s patented Meta-Lax® technology is used for eliminating thermal stress in metal parts, thereby preventing warping and cracking, at a fraction of the time, energy, and monetary costs of competing technologies. More information can be found at http://www.Bonal.com or by calling 1-800-Meta-Lax.