DENVER, N.C., November 5, 2019 – Air T, Inc. (NASDAQ: AIRT) (“Air T”) announced today the record date, payment date and payment rate for the next quarterly cash distribution on its Alpha Income Preferred (AIP) securities (NASDAQ: AIRTP), which provide for distributions at the rate of 8.0% per annum on the stated value of $2.50 per share of AIP. The distribution payment date will be Friday, November 15, 2019, to holders as of the Record Date of November 14, 2019. This distribution will cover the period from August 27, 2019, the date of the previous distribution, to the payment date of November 15, 2019, and the distribution will be in the amount of $0.0433 per share of AIP.
Future distributions will be paid on the 15th day of every February, May, August and November (subject to possible deferral as set forth in the Amended and Restated Trust Agreement dated June 10, 2019), and the record date for each distribution will be one business day prior to the distribution date. Future distributions will be in the amount of $0.05 per share of AIP.
About Air T, Inc.
Established in 1980, Air T, Inc. is a portfolio of powerful businesses, each of which is independent yet interrelated. Historically, Company’s segments are: overnight air cargo, aviation ground support equipment manufacturing, and commercial aircraft asset management and logistics. Our ownership interests are designed to expand, strengthen and diversify AIR T, INC.’s cash earnings power. Our goal is to build on Air T, Inc.’s core businesses, and when appropriate, to expand into adjacent and other industries that we believe fit into the Air T, Inc. portfolio. For more information, visit www.airt.net.
Statements in this press release, which contain more than historical information, may be considered forward-looking statements (as such term is defined in the Private Securities Litigation Reform Act of 1995), which are subject to risks and uncertainties. Actual results may differ materially from those expressed in the forward-looking statements because of important potential risks and uncertainties, including, but not limited to, the risk that contracts with major customers will be terminated or not extended, future economic conditions and their impact on the Company’s customers, the Company’s ability to recover on its investments, including its investments in Delphax and other recently acquired companies, the timing and amounts of future orders under the Company’s Global Ground Support subsidiary’s contract with the United States Air Force, and risks and uncertainties related to business acquisitions, including the ability to successfully achieve the anticipated benefits of the acquisitions, inflation rates, competition, changes in technology or government regulation, information technology disruptions, and the impact of future terrorist activities in the United States and abroad. A forward-looking statement is neither a prediction nor a guarantee of future events or circumstances, and those future events or circumstances may not occur. The Company is under no obligation, and it expressly disclaims any obligation, to update or alter any forward-looking statements, whether as a result of new information, future events or otherwise.