Universal Technical Institute, Inc., a provider of technical training for students seeking careers as professional automotive, diesel, collision repair, motorcycle and marine technicians, gave its shareholders good news this week.
The school's board of directors has declared a special cash dividend on UTI common stock of $1.50 per share, payable on July 16, 2010, to common stockholders of record as of July 6, 2010.
"We are pleased our business is generating sufficient cash flow to operate and grow our business while returning excess liquidity to our shareholders," says Kimberly McWaters, president and CEO of UTI. "On an ongoing basis, we will evaluate our cash position in light of growth opportunities, operating results and general market conditions. Periodically, we may return excess cash through some combination of cash dividends or stock repurchases."
UTI offers ndergraduate degree, diploma and certificate programs at 10 campuses across the United States, and manufacturer-specific training programs, both student paid at its campuses and manufacturer or dealer sponsored at dedicated training centers.
For more information, visit http://uti.investorroom.com/.
