Emergent Group, Inc. (LZR) Announces $0.90 One-time Cash Dividend and 16% Total Shareholder Equity Increase

QualityStocks would like to highlight Emergent Group Inc. (NYSE: LZR). The company, through its wholly owned subsidiary, PRI Medical Technologies, Inc. ("PRI Medical"), provides mobile medical laser and surgical equipment in 16 states on a per-procedure basis to hospitals, outpatient surgery centers, and physicians' offices.

In the company’s news yesterday,

Emergent Group announced a one-time cash dividend and regular annual dividend, supported by strong cash flow. The dividend is comprised of a one-time cash dividend of $0.50 per share on the company’s common stock, as well as a regular dividend of $0.40 per share, for an aggregate $0.90.

“Emergent Group’s dividend declaration continues our practice of rewarding shareholders with the strong cash flow generated by our business model,” Bruce J. Haber, chairman and CEO stated in the press release. “At the same time, our cash flow allows us to actively pursue our growth strategies, including investment in new technologies, an aggressive sales force and processes that encourage hospitals, physician practices and manufacturers to collaborate with us on cost-effective equipment rentals.

Haber also noted the company’s resilience to broader healthcare industry concerns and how company shareholders were affected.

“Even in a period of healthcare industry softness, we have been able to manage our cash prudently and reduce our debt. Between the first and third quarters of 2010, we have seen our cash balance increase over 36% and total shareholders’ equity rise by more than 16%. We are pleased that Emergent Group has the resources to make this dividend declaration possible and we thank our shareholders for their ongoing support,” he stated.

Shares of Emergent spiked nearly 8% to $6.90 in mid-day trading.

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