Dividend declared after the announcement of the establishment of the record!
Minnesota-based micro-cap saw its shares erupt at the start of Monday’s trading day after the company announced its board of directors declared a cash dividend of $ 0.10 per share on its outstanding common stock . Douglas M. Polinsky, CEO of Mill City Ventures III Ltd (OTCQB: MCVT) went on to say that their “lending business continued to grow, delivering a record year in terms of both revenue and profit. As a result of this performance, we are delighted to reward our patient shareholders with a cash dividend to help provide a return on investment for our record year. We continue to look for other ways to add value to our investors. “
Mill City Ventures III Ltd is a business development company. The company focuses on investing or lending to small cap private and public companies. Its aim is to obtain returns on securities investments and other investment opportunities available to business development companies. It intends to invest capital in portfolio companies for the purposes of financing acquisitions, recapitalizations, buyouts, organic growth and working capital.
Traders were bullish on the news, with stocks trading quickly to a high of $ 3.90 / share (+ 11.43%) after the announcement. This move is a beacon of hope for long-term shareholders who have been riding the downtrend for several months.