Cemtrex to pay first ever cash dividend; shares +5% premarket

|By:, SA News Editor

Cemtrex (NASDAQ:CETX) +4.9% premarket on news it will pay its first ever cash dividend of $1/share to shareholders of record on March 31.

CETX says it is seeking to broaden its investor base, as some mutual funds will only invest in stocks that pay dividends.

"We have sufficient cash flow and confidence in the future to give us comfort that we can afford to fund both a dividend and our ongoing acquisition program," the company says.