SEMINOLE, Fla., Dec. 11, 2012 (GLOBE NEWSWIRE) -- As part of its ongoing commitment to maximize value to its shareholders, the Board of Directors of Superior Uniform Group, Inc. (Nasdaq:SGC) declared a special dividend of $.54 per share, payable December 31, 2012, to shareholders of record as of December 21, 2012. This dividend represents a prepayment of the Company's regular quarterly dividends for 2013. The special dividend will result in a total cash outlay of approximately $3.3 million. For 2012, the Company's dividend payments will total $1.08 per share. CEO Michael Benstock stated "We believe today's announcement of the prepayment of the Company's 2013 dividend provides us with a tax-efficient method to return capital to our shareholders prior to the anticipated significant increase in tax rates associated with dividend payments. We continue to have great confidence in the future growth opportunities for our company. Our very strong financial position puts us in a position to be able to make this advance payment without hindering our ability to invest in our future."
ABOUT SUPERIOR UNIFORM GROUP, INC.
Superior Uniform Group, Inc. (Nasdaq:SGC), established in 1920, is one of America's foremost providers of fine uniforms and image apparel. Headquartered in Seminole, Fla., Superior Uniform Group manages award-winning uniform apparel programs for major corporations nationwide. Leaders in innovative uniform program design, global manufacturing and state-of-the-art distribution, Superior Uniform Group helps companies achieve a professional appearance and communicate their brands—particularly those in the healthcare, hospitality, food service, retail and private security industries. The company's commitment to service, technology, quality and value-added benefits, as well as its financial strength and resources, support customers' diverse needs while embracing a "Customer 1st, Every Time!" philosophy and culture. Superior Uniform Group is the parent company to The Office Gurus® and everyBODY media®. For more information, call (800) 727-8643 or visit www.superioruniformgroup.com.
Statements contained in this press release which are not historical facts may constitute forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. All forward-looking statements are subject to risks and uncertainties, including without limitation, those identified in the Company's SEC filings, which could cause actual results to differ from those projected.
CONTACT: Andrew D. Demott, Jr., CFO