Chicago Rivet & Machine Co. declared a regular dividend of $0.10 per share. The dividend is payable on September 17, 2009 to shareholders of record as of September 4, 2009. This continues the companyâ€™s record of paying a dividend for 75 consecutive years to shareholders.
The company reported a net loss in the second quarter of 2009 of $439,000, or ($0.45) per share, on sales of $4.67 million. In the same quarter of 2008, the company lost ($0.02) on sales of $8.04 million. Despite these losses, Chicago Rivet & Machine Co. has a solid balance sheet with cash and equivalents of $823,000 and $6.74 million in a certificate of deposit as of 6/30/2009. The company has no debt.
Chicago Rivet & Machine Co. is a manufacturer of fasteners and assembly equipment for sale mostly to the automotive industry. In the fastener industry, the company manufactures rivets, cold-formed fasteners and parts and screw machine products. In the assembly equipment segment, the company manufactures automatic rivet setting machines, assembly equipment, and spare parts and tools for these machines.
Chicago Rivet & Machine Co. was founded in 1920, and is headquartered in Naperville, Illinois. It has manufacturing facilities only in the United States, located in Naperville, Illinois, Tyrone, Pennsylvania, Albia, Iowa and Madison Heights, Michigan.