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The Marketing Alliance, Inc. (OTC: MAAL) ("TMA" or the "Company"), today announced that its Board of Directors has declared a $0.05 per share cash dividend for shareholders of record on June 19, 2020, to be paid on or about June 30, 2020.
The Company also announced a change in its shareholder distribution plan to move to declare dividend distributions on a quarterly basis to have the benefit of the most recent information to make these decisions.
Timothy M. Klusas, TMA’s Chief Executive Officer, commented, "We know dividends are an important component of investment return to our shareholders. We also felt the most responsible plan, given the current uncertainty surrounding economic conditions following the onset of the COVID-19 pandemic, was to move our planned distributions to a quarterly basis. A quarterly interval would provide additional time and up-to-date information to continue to make assessments as circumstances could change on a nearly daily basis. Whereas investors were previously evaluating our distributions through an annual dividend, we would prefer the same investors compare that to the sum of distributions over the same yearly time period."
About The Marketing Alliance, Inc.
Headquartered in St. Louis, MO, TMA operates three businesses. TMA provides support to independent insurance brokerage agencies, with a goal of providing members value-added services on a more efficient basis than they can achieve individually. The Company also owns an earth moving and excavating (construction) business and six children’s play and party facilities. Investor information can be accessed through the shareholder section of TMA’s website at: http://www.themarketingalliance.com/shareholder-information.
TMA’s common stock is quoted on the OTC Markets (http://www.otcmarkets.com) under the symbol "MAAL".
Forward Looking Statement
Investors are cautioned that forward-looking statements involve risks and uncertainties that may affect TMA's business and prospects. Examples of forward-looking statements include, among others, statements we make regarding our expectations for our performance, and our ability and intent to pay dividends, in future periods and the production of favorable returns to shareholders, our ability to obtain industry acceptance and competitive advantages of a multi-carrier digital platform for life insurance applications, our expectations with respect to the distribution of new life insurance products, the effects of ongoing uncertainty regarding the Department of Labor’s Fiduciary Rule in our annuity business and our ability to continue to diversify our earth moving and excavating business. Any forward-looking statements contained in this press release represent our estimates, expectations or intentions only as of the date hereof, or as of such earlier dates as are indicated, and should not be relied upon as representing our views as of any subsequent date. These statements involve a number of risks and uncertainties, including, but not limited to, the effect of the COVID-19 pandemic on our business, financial condition and results of operations, privacy and cyber security regulations, expectations of the economic environment; material adverse changes in economic conditions in the markets we serve and in the general economy; future regulatory actions and conditions in the states in which we conduct our business; our ability to work with carriers on marketing, distribution and product development; pricing and other payment decisions and policies of the carriers in our insurance distribution business, changes in the public securities markets that affect the value of our investment portfolio, weather and environmental conditions in the areas served by our earth moving and excavation business, the integration of our operations with those of businesses or assets we have acquired or may acquire in the future and the failure to realize the expected benefits of such acquisition and integration. While we may elect to update forward-looking statements at some point in the future, we specifically disclaim any obligation to do so.
View source version on businesswire.com: https://www.businesswire.com/news/home/20200605005058/en/
The Marketing Alliance, Inc.
Timothy M. Klusas, President
The Equity Group Inc.
Adam Prior, Senior Vice President