Preformed Line Products Announces Accelerated Quarterly Dividends

News provided by

Dec 13, 2012, 07:38 ET

MAYFIELD VILLAGE, Ohio, Dec. 13, 2012 /PRNewswire/ -- The Board of Directors of Preformed Line Products (Nasdaq: PLPC) on December 12, 2012 declared accelerated dividends of $.40 per share on the Company's common shares, payable December 28, 2012 to shareholders of record at the close of business on December 24, 2012.

Rob Ruhlman, Chairman and Chief Executive Officer, said, "Due to the uncertainty of tax increases on dividends in 2013, we believe the Board's decision to advance two quarters of expected dividend payments is in the best interest of our shareholders. This is not a special dividend payment but rather accelerated quarterly dividends in lieu of the quarterly dividends which would have been payable in January and April, 2013."

Founded in 1947, Preformed Line Products is an international designer and manufacturer of products and systems employed in the construction and maintenance of overhead and underground networks for energy, communications and broadband network companies.

Preformed's world headquarters are in Mayfield Village, Ohio, and the Company operates three domestic manufacturing centers, located in Rogers, Arkansas, Albuquerque, New Mexico, and Albemarle, North Carolina. The Company serves its worldwide market through international operations in Argentina, Australia, Brazil, Canada, China, England, Indonesia, Malaysia, Mexico, New Zealand, Poland, South Africa, Spain and Thailand.