Rimage Corporation (Nasdaq:RIMG) today announced that, as previously
disclosed in October, its Board of Directors has approved a 70% increase
in the quarterly dividend to $0.17 per share, payable on December 15,
2011 to shareholders of record on November 30, 2011. Based on the
current stock price, this represents an approximately 6% yield.
"With the recent acquisition of Qumu, Rimage has improved its outlook
for growth in 2012 and beyond by partnering with an established leader
in the growing market for enterprise video communications,” said Sherman
Black, president and CEO of Rimage. "The transaction combines Qumu’s
strength in video communications over a range of platforms with Rimage’s
profitable, cash-generating disc publishing business. There are
significant opportunities to expand both companies’ offerings to new and
existing customers of both entities and we are working hard to complete
our integration activities. With the expectation of double digit revenue
growth next year and continued strong cash generation, our Board
determined that an increase in the quarterly dividend was warranted.”
About Rimage Corporation
Founded in 1978, Rimage Corporation (NASDAQ:RIMG) helps businesses
deliver digital content directly and securely to their customers and
employees. Its disc publishing business, based in Minneapolis,
Minnesota, supplies more than 10,000 customers in North America, Europe
and Asia with industry-leading solutions that archive, distribute and
protect content on CDs, DVDs and Blu-Ray Discs™. With its acquisition of
Qumu, Rimage is a leader in the rapidly growing enterprise video
communications market. The combination of Qumu and Rimage’s disc
publishing business and virtual publishing initiative enables businesses
to securely deliver their videos, documents, audio files and images in
today’s multi-platform, multi-device world. Additional information can
be found at www.rimagecorp.com.
Blu-ray Disc™ is a trademark of the Blu-ray Disc Association.
