MINNEAPOLIS--(BUSINESS WIRE)--Rimage Corporation (Nasdaq:RIMG) today announced that, as previously disclosed in October, its Board of Directors has approved a 70% increase in the quarterly dividend to $0.17 per share, payable on December 15, 2011 to shareholders of record on November 30, 2011. Based on the current stock price, this represents an approximately 6% yield.
“With the recent acquisition of Qumu, Rimage has improved its outlook for growth in 2012 and beyond by partnering with an established leader in the growing market for enterprise video communications,” said Sherman Black, president and CEO of Rimage. “The transaction combines Qumu’s strength in video communications over a range of platforms with Rimage’s profitable, cash-generating disc publishing business. There are significant opportunities to expand both companies’ offerings to new and existing customers of both entities and we are working hard to complete our integration activities. With the expectation of double digit revenue growth next year and continued strong cash generation, our Board determined that an increase in the quarterly dividend was warranted.”
About Rimage Corporation
Founded in 1978, Rimage Corporation (NASDAQ:RIMG) helps businesses deliver digital content directly and securely to their customers and employees. Its disc publishing business, based in Minneapolis, Minnesota, supplies more than 10,000 customers in North America, Europe and Asia with industry-leading solutions that archive, distribute and protect content on CDs, DVDs and Blu-Ray Discs™. With its acquisition of Qumu, Rimage is a leader in the rapidly growing enterprise video communications market. The combination of Qumu and Rimage’s disc publishing business and virtual publishing initiative enables businesses to securely deliver their videos, documents, audio files and images in today’s multi-platform, multi-device world. Additional information can be found at www.rimagecorp.com.
Blu-ray Disc™ is a trademark of the Blu-ray Disc Association.