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Tampa Bay-Lakeland
Business Observer Friday, Dec. 10, 2010 9 years ago

TRC issues dividend

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The firm has not missed a dividend payment since the first quarter of 2006.

TAMPA — Technology Research Corp. issued a $0.02 dividend to shareholders today. Only once has the Tampa-based company failed to pay its dividend since it began doing so in 1999.

The company ended September with $9.26 million in cash and cash equivalents on its balance sheet, financial documents show. That total is up 31% over the past 12 months.

In November, Technology Research Corp. purchased a new product line from TDI Products Inc., an Atlantic Beach-based company. At the time of the transaction, President Owen Farren said the deal complemented TRC's “specialty vehicle strategy.”

Technology Research Corp. develops power management systems. The business earned $9.2 million in third quarter revenues this year.

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