Propellus Initiates Corporate Dividend Policy

RED BANK, NJ / ACCESSWIRE / March 21, 2024 / Propellus Inc., an Oklahoma corporation, (OTC PINK:PRPS), an alternative finance company that specializes in assisting small businesses with their cash flow needs, announced today that its Board of Directors has adopted a new corporate dividend policy to provide for cash distributions to its common shareholders. Under the terms of this policy, Propellus plans to distribute, in cash, 50% of monthly free cash flow, on a quarterly basis, to its common shareholders.

"We are pleased to institute this new dividend policy that is intended to reward our shareholders for their continued confidence and faith in Propellus and its future, while allowing the Company to reinvest the remainder into future corporate growth" stated Ralph Johnson, CEO. "With the previously announced cancellation of 5.5 million common shares held by management, we are hopeful that we will be able to provide our common shareholders with meaningful cash distributions in the future."

About Propellus Inc.: Propellus Inc., is engaged in offering small businesses a variety of financing alternatives ranging in amounts between $20,000-$125,000. Such financings include: payroll advances directly and through third-party professional employer organizations, merchant cash advances, accounts receivable factoring, short-term line of credit loans, and other types of loan products and cash flow financing.

Contact:

Propellus Investor Relations
[phone]
[e-mail]

SOURCE: Propellus, Inc.

View the original press release on accesswire.com


The Propellus Stock at the time of publication of the news with a raise of +2,78 % to 1,850USD on Nasdaq OTC stock exchange (21. März 2024, 01:10 Uhr).