WEST ORANGE, N.J., Dec 18 /PRNewswire-FirstCall/ -- BIH Corporation's (Pink Sheets: BIHC - News) Board of Directors has met and determined that the Company will now pay a cash dividend along with a stock dividend.
The Company's Board of Directors has voted unanimously to issue a cash dividend of 0.005 (one half of one cent) along with a stock dividend of 1 for 1 (one share for one share owned.) The cash dividend will be paid from earnings. The Company's Board also voted on other matters.
The Company's Board of Directors also voted to reduce the Company's authorized common shares to 400 million common shares from its previous increase of 700 million.
The Company will announce the payment date of the Dividends this week; they will be paid by December 31, 2008.
These actions were based on the hard fought recommendations of the Company's CEO & President Mr. Cris Galo as he stated, "The future of the Company is based on the support of its shareholders and if we do not have that, the Company will not be successful."
Mr. Galo also stated that, "After a hard fought battle with the Board he is satisfied that the Company will be able to move forward in the coming year."
Mr. Galo also stated that, "He wishes everyone a very Happy Holiday and a successful New Year."
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