HeartCore Enterprises, Inc. (NASDAQ:HTCR) ("HeartCore" or the "Company"), a leading enterprise software and consulting services company based in Tokyo, announced that it has authorized a dividend payment in the amount of $0.02 per share of Common Stock, resulting in an aggregate $417,283 in total dividends to be paid by the Company.
After evaluating the Company's balance sheet and financial profile, HeartCore and its Board of Directors deemed it was in the best interest of the Company and stockholders to declare and authorize a dividend on the common stock. The record date for holders of the Common Stock to participate in the dividend is April 26, 2024, and the payment date will be May 3, 2024. HeartCore may issue quarterly dividends going forward, contingent upon the financial results. The four potential annual dividends may be equal to or greater than the current dividend.
"I am pleased to announce our inaugural dividend payment, a testament to our strong financial health and cash management throughout the year," said HeartCore CEO Sumitaka Kanno Yamamoto. "After a thorough assessment of our balance sheet and the recent influx of cash from the sale of a Go IPO client warrant, we felt that rewarding our valued shareholders was appropriate and long overdue. We are confident in the current Go IPO pipeline that has become a revenue-generating catalyst for the Company, and eagerly anticipate sharing further updates as they unfold. Looking ahead, we anticipate sales and gross profit to reach their highest levels since HeartCore's inception in the first quarter of 2024. We thank all of our valued shareholders for your continued support, and we're excited for the growth that lies ahead in 2024."