VSE Increases Quarterly Cash Dividend
Board Authorizes 20% Increase in Payout Rate
ALEXANDRIA, Va.-- VSE Corporation (Nasdaq GS: VSEC) reported today that on June 1, 2010, the company's Board of Directors declared a quarterly dividend of $0.06 per share, increasing the cash dividend by 20% to an annual payout rate of $0.24 per share.
The $0.06 per share dividend declared on June 1, 2010 will be paid on August 11, 2010, to stockholders of record as of July 28, 2010.
VSE has paid cash dividends since 1973 and has increased its dividend each year since 2004. The payment and amount of future dividends will depend on existing conditions, including the company's earnings, financial condition, working capital requirements, and other factors.
VSE CEO Maurice "Mo" Gauthier said, "Increasing our quarterly dividend to $0.06 demonstrates the strength of our business model and reflects our confidence in our ability to generate cash and drive shareholder returns."
About VSE
VSE is a diversified Federal Services company of choice with over 50 years of experience in solving issues of global significance with integrity, agility, and value. VSE is dedicated to making our clients successful by delivering talented people and innovative solutions for logistics, engineering, IT services, construction management and consulting. For additional information on VSE services and products, please see the Company's web site at www.vsecorp.com or contact Randy Hollstein, VSE Corporate Vice President of Sales and Marketing, at (703) 329-3206.
Source: VSE Corporation
Released June 9, 2010