SOURCE: Epolin, Inc.

April 14, 2011 13:27 ET

Epolin, Inc. Announces Special Cash Dividend of $0.12 per Share

NEWARK, NJ--(Marketwire - Apr 14, 2011) - EPOLIN, INC. (the "Company") (OTCBB: EPLN) ( today announced that its Board of Directors has declared a special cash dividend of $0.12 per share to be payable on May 12, 2011 to shareholders of record at the close of business on April 28, 2011. The aggregate amount of payment to be made in connection with the special cash dividend will be approximately $1.5 million and will be paid from cash on hand.

The Company noted that in April 2006 the Board adopted a dividend policy under which the Company would issue a regular annual cash dividend along with a special cash dividend from time to time as well. From May 2006 through August 2008, the Company did pay an aggregate of five cash dividends of $0.02 per share each and one cash dividend of $0.04 per share, but has not paid any cash dividends since primarily due to the Company's decision to seek strategic alternatives.

"The decision to pay and the magnitude of this special dividend reflects the Board's belief that the Company's current liquidity position exceeds the immediate and projected needs of the business combined with the fact that we have not paid a dividend since 2008," commented Murray S. Cohen, Ph.D., Chairman of the Board. He added, "While we cannot provide any guidance with respect to when another cash dividend, annual or otherwise, may be paid, our Board remains committed to create value for our shareholders and determined that the payment of this special dividend was the best way to benefit our shareholders as we continue to explore strategic alternatives, including the potential sale of the Company."

About Epolin

Epolin, Inc. is a specialized chemical company primarily engaged in the manufacturing, marketing, research and development of infrared dyes, laser absorbing dyes and infrared dye formulations. The Company's business is heavily weighted towards the development, manufacture and sale of near infrared dyes. Applications for these dyes cover several markets that include laser protection, welding, sunglasses, optical filters, glazing and imaging and security inks and tagants. The Company also manufactures specialty chemicals for certain chemical manufacturers.

Statements contained herein that are not based upon current or historical fact are forward-looking in nature. Such forward-looking statements reflect the Company's expectations about its future operating results, performance and opportunities that involve substantial risks and uncertainties. When used herein, the words "anticipate", "believe", "estimate", "plan", "intend" and "expect" and similar expressions, as they relate to Epolin, Inc., or its management, are intended to identify such forward-looking statements. These forward-looking statements are based on information currently available to the Company and are subject to a number of risks, uncertainties, and other factors that could cause the Company's actual results, performance, prospects, and opportunities to differ materially from those expressed in, or implied by, these forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, such factors discussed in reports and documents filed from time to time by the Company with the Securities and Exchange Commission. Except as required by the Federal Securities law, the Company does not undertake any obligation to release publicly any revisions to any forward-looking statements to reflect events or circumstances after the date hereof or for any other reason.

Contact Information

  • For more detailed information, please contact:
    Murray S. Cohen
    Chairman of the Board
    James Ivchenko
    Greg Amato
    Chief Executive Officer
    (973) 465-9495

    358-364 Adams Street
    Newark, New Jersey 07105