ANAHEIM, Calif.--([ BUSINESS WIRE ])--DDi Corp. (NASDAQ: DDIC), a leading provider of time-critical, technologically advanced electronic interconnect design, engineering and manufacturing services, announced today that its Board of Directors has declared a 20% increase in the companyas quarterly common stock dividend, beginning in the first quarter of 2012. DDias quarterly dividend will rise to $0.12 per share of common stock held beginning in the first quarter of 2012. The increased dividend will be paid on March 30, 2012, to stockholders of record as of the close of business on March 15, 2012.
Mikel Williams, President and Chief Executive Officer of DDi Corp., stated, "The 2012 first quarter dividend will be the eighth consecutive quarterly dividend since DDi began paying dividends in mid-2010. We are pleased that, upon payment of the 2012 first quarter dividend, we will have paid $15.0 million in dividends. Prior to initiating dividends, we repurchased $16.3 million of common stock in the open market. These actions reflect our drive to provide returns for DDias shareholders, while at the same time continuing to invest in and grow our business. We will continue looking for additional opportunities to drive shareholder value."
The previously-announced dividend for the fourth quarter of 2011 of $0.10 per share will be unchanged and paid on December 30, 2011, to stockholders of record as of the close of business on December 15, 2011.
About DDi
DDi is a leading provider of time-critical, technologically advanced electronic interconnect design, engineering and manufacturing services. Headquartered in Anaheim, California, DDi and its subsidiaries offer services to leading electronics OEMs and contract manufacturers worldwide from its facilities across North America and with manufacturing partners in Asia.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995
Except for historical information contained in this release, statements in this release may constitute forward-looking statements regarding the Company's assumptions, projections, expectations, targets, intentions or beliefs about future events. Words or phrases such as "anticipates," "believes," "estimates," "expects," "intends," "plans," "predicts," "projects," "targets," "will likely result," "will continue," "may," "could" or similar expressions identify forward-looking statements. Forward-looking statements involve risks and uncertainties, which could cause actual results or outcomes to differ materially from those expressed. The Company cautions that while it makes such statements in good faith and it believes such statements are based on reasonable assumptions, including without limitation, management's examination of historical operating trends, data contained in records, and other data available from third parties, it cannot assure you that the Company's projections will be achieved. In addition to other factors and matters discussed from time to time in the Company's filings with the U.S. Securities and Exchange Commission, or the SEC, some important factors that could cause actual results or outcomes for DDi or its subsidiaries to differ materially from those discussed in forward-looking statements include changes in general economic conditions in the markets in which it may compete and fluctuations in demand in the electronics industry; the Company's ability to sustain historical margins; increased competition; increased costs; loss or retirement of key members of management; currency exchange rate fluctuations; integration of acquired operations; international operations; compliance with environmental regulations; potential impacts of natural disasters on the electronics industry and the Company's supply chain; increases in the Company's cost of borrowings or unavailability of additional debt or equity capital on terms considered reasonable by management; and adverse state, federal or foreign legislation or regulation or adverse determinations by regulators. Any forward-looking statement speaks only as of the date on which such statement is made, and, except as required by law, the Company undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of unanticipated events. New factors emerge from time to time, and it is not possible for management to predict all such factors.