Resdel Industries Declares Stock Dividend of 10%

Resdel Industries of Newport Beach has declared a 10% stock dividend, payable Feb. 29 to shareholders of record on Feb. 3.

The supplier of microwave and digital subsystems and components for avionics, security and warfare systems said it will issue a total of 389,145 shares to its approximately 580 shareholders of record. The company will also pay fractional shares in cash along with the dividends at a rate of $7 per share.

Charles Missler, chief executive, said the board of directors felt the dividend was justified in light of the corporation’s recent growth, its profitability, the stock’s addition to the NASDAQ National Market System and the improved liquidity of its common shares.