Park to make latest in string of dividend payments
Park Electrochemical Corp., a Melville-based manufacturer of high-tech materials, said that its second-quarter profits fell 58 percent as global aerospace sales remain sluggish and the company accrued costs from shutting a manufacturing facility in China. Credit: Handout
Park Electrochemical Corp. said Friday that it’s about to pay its 101st consecutive regular dividend to shareholders.
The Melville company's quarter ends Oct. 7, and the $0.10 per share payment goes out a month later.
Park's dividend record is unbroken since September 1985.
"During the last 25 years, Park has never skipped a quarterly cash dividend, and Park's quarterly cash dividend has never been reduced," the company said.
Park makes high-strength, lightweight parts for airplane wings and space shuttle rocket nozzles.
In addition to their use on aerospace fuselages, wings, cockpits and struts, Park's materials are also made into wind energy, automotive and other industrial parts.
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