UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of Earliest Event Reported): March 13, 2007
FREQUENCY ELECTRONICS, INC.
(Exact name of registrant as specified in its charter)
Delaware 1-8061 11-1986657
(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation) File Number) Identification No.)
55 Charles Lindbergh Blvd., Mitchel Field, NY 11553
(Address of principal executive offices) (Zip Code)
(516) 794-4500
(Registrant's telephone number, including area code)
NONE
(Former name, address and fiscal year, if changed since last report)
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Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):
|_| Written communications pursuant to Rule 425 under the Securities Act
(17 CFR 230.425)
|_| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17
CFR 240.14a-12)
|_| Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
|_| Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
Page 1 of 4 pages
ITEM 8.01 OTHER EVENTS
On March 13, 2007, the board of directors of registrant declared a cash
dividend pursuant to its current policy for payment of cash dividends. The cash
dividend is in the per share amount of $0.10 on the common stock of the
registrant, payable on June 1, 2007 to stockholders of record of such stock at
the close of business on April 30, 2007.
Registrant's cash dividend policy calls for the declaration and payment of
dividends to holders of registrant's common stock:
a. Subject to the discretion and satisfaction of registrant's board of
directors with registrant's financial condition, results of its
operations, and its prospects for future investments in growth, at the
time of the declaration of such dividends; and
b. Subject to the discretion and satisfaction of the board as aforesaid
in declaring such dividends, to be paid on each of June 1 and December
1 to the shareholders of record, respectively, at the close of
business on April 30 and October 31.
ITEM 9.01 (c). EXHIBITS.
99.1 Press Release of Frequency Electronics, Inc., dated March 15, 2007.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
FREQUENCY ELECTRONICS, INC.
By: /s/ Alan Miller
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Alan Miller
Chief Financial Officer
and Treasurer
Dated: March 15, 2007
Exhibit 99.1
PRESS RELEASE
FREQUENCY DECLARES SEMI-ANNUAL DIVIDEND
Mitchel Field, NY, March 15, 2007 - The Board of Directors of Frequency
Electronics, Inc. (NASDAQ - FEIM) has declared a cash dividend of $0.10 per
share, payable on June 1, 2007 to shareholders of record on April 30, 2007. The
Board took this action in conformance with its established policy regarding a
semi-annual cash dividend.
About Frequency Electronics
---------------------------
Frequency Electronics, Inc. is a world leader in the design, development and
manufacture of high precision timing, frequency control and synchronization
products for space and terrestrial applications. Frequency's products are used
in commercial, government and military systems, including satellite payloads,
missiles, UAVs, aircraft, GPS, secure radios, SCADA, energy exploration and
wireline and wireless communication networks. Frequency has received over 60
awards of excellence for achievements in providing high performance electronic
assemblies for over 120 space programs. The Company invests significant
resources in research and development and strategic acquisitions world-wide to
expand its capabilities and markets. Subsidiaries and Affiliates: Gillam-FEI
provides expertise in wireline network synchronization and SCADA; FEI-Zyfer
provides GPS and secure timing ("SAASM") capabilities for critical military and
commercial applications; FEI-Asia provides cost effective manufacturing and
distribution capabilities in a high growth market. Frequency's Morion affiliate
supplies high-quality, cost effective quartz oscillators and components. Elcom
Technologies provides added resources for state-of-the-art RF microwave
products. Additional information is available on the Company's website:
www.frequencyelectronics.com Safe Harbor Statement under the Private Securities
Litigation Reform Act of 1995: The Statements in this press release regarding
the future constitute "forward-looking" statements pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995.
Forward-looking statements inherently involve risks and uncertainties that could
cause actual results to differ materially from the forward-looking statements.
Factors that would cause or contribute to such differences include, but are not
limited to, inability to integrate operations and personnel, actions by
significant customers or competitors, general domestic and international
economic conditions, consumer spending trends, reliance on key customers,
continued acceptance of the Company's products in the marketplace, competitive
factors, new products and technological changes, product prices and raw material
costs, dependence upon third-party vendors, competitive developments, changes in
manufacturing and transportation costs, the availability of capital, and other
risks detailed in the Company's periodic report filings with the Securities and
Exchange Commission. By making these forward-looking statements, the Company
undertakes no obligation to update these statements for revisions or changes
after the date of this release.
Contact information: Alan Miller, CFO, or General Joseph P. Franklin, Chairman:
TELEPHONE: (516) 794-4500 WEBSITE: www.frequencyelectronics.com