Conrad declares cash dividend
MORGAN CITY — Conrad Industries announced Friday that its board of directors declared a special cash dividend of $2 per common share.
The special cash dividend is payable to shareholders of record on Dec. 24 and is expected to be paid on or about Dec. 31.
Johnny Conrad, co-chairman and CEO, said “The decision to pay this one-time special cash dividend by our board of directors is indicative of our confidence in the company’s financial strength.”
Conrad was established in 1948 and is headquartered in Morgan City. It designs, builds and overhauls tugboats, ferries, lifeboats, barges, offshore supply vessels and other steel and aluminum products for both the commercial and government markets. The company provides both repair and new construction services at its four shipyards located in southern Louisiana and Texas.