ManTech International’s (NASDAQ: MANT) board of directors declared an initial semi-annual cash dividend of $0.42 per share of common stock this week. The declaration marks a first for the company as it rolls out its new dividend program.
Stockholders can expect to see payments after June 15 for all players on record as of June 2. Going forward, ManTech plans to pay semi-annual dividends in June and December. December 2011’s dividend payment is expected to be $0.84 per share.
“ManTech’s primary objective has always been to generate stockholder returns through long-term organic earnings growth, as well as through acquisitions, and that has not changed, ” said ManTech Chairman and CEO George J. Pedersen. “Given our financial strength, current cash position, positioning on priority programs, and excellent visibility into future earnings and cash flow, we feel confident in our ability to simultaneously pursue our growth objectives and augment stockholder returns through regular dividends for our investors. ManTech remains committed to providing attractive total returns to our stockholders, and the board has decided that it is the right time to initiate a dividend program.”