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SMTP Board Approves Increase in Special DividendEarly Exercise of Warrant Provides Additional $500,000 for Distribution to Shareholders (May 14, 2012)
CAMBRIDGE, MA -- (Marketwire) -- 05/14/12 -- SMTP, Inc. (OTCBB: SMTP), a global email marketing and delivery provider, today announced that Public Financial Services, LLC exercised their outstanding warrant and purchased 800,000 shares of SMTP common stock for $500,000 in cash.
Semyon Dukach, SMTP CEO and Chairman of the Board of Directors, commented, "We are proud they exercised all of their warrants several years before they were due to expire, as we believe it displays a significant vote of confidence in our executive team and our ability to increase sales, profits and dividends."
The SMTP Board of Directors has also recently approved a plan to distribute surplus cash to shareholders through a one-time special cash dividend and on an ongoing basis through cash dividends paid quarterly.
As a result of the additional $500,000 in cash, the SMTP Board of Directors has approved an increase in the recently announced special cash dividend from $1.4 million to approximately $1.9 million. This special dividend will be $0.13 per share.
The special dividend of $0.13 per share and the first quarterly cash dividend of $0.013 per share will be paid on May 31, 2012 to shareholders of record on May 21, 2012.
ABOUT SMTP, Inc. (OTCBB: SMTP)
SMTP (http://www.SMTP.com) is a leading provider of cloud-based services to facilitate email deliverability, including bulk and transactional sending, reputation management, compliance auditing, abuse processing and issue resolution. Our services provide customers with the ability to increase the deliverability of email with less time, cost and complexity than handling it themselves. SMTP, Inc. is based in Cambridge, Massachusetts and on the web at http://www.smtp.com.
Safe Harbor Statement
The information posted in this release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these statements by use of the words "may," "will," "should," "plans," "explores," "expects," "anticipates," "continues," "estimates," "projects," "intends," and similar expressions. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected or anticipated. These risks and uncertainties include, but are not limited to, general economic and business conditions, effects of continued geopolitical unrest and regional conflicts, competition, changes in technology and methods of marketing, delays in completing new customer offerings, changes in customer order patterns, changes in customer offering mix, continued success in technological advances and delivering technological innovations, delays due to issues with outsourced service providers, and various other factors beyond the Company's control.
For Further Information Contact SMTP, Inc.
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