DMC Global declares dividend on Q2 results

BOULDER — DMC Global Inc. (Nasdaq: BOOM), based in Boulder, has declared a quarterly cash dividend of 2 cents per share. The dividend is payable on Oct. 15 to shareholders of record as of Sept. 30.

The company’s most recent quarterly report, for the second quarter of 2018, showed that sales were a record $80.9 million, up 71 percent from the same quarter of the year prior. Net income was $6.4 million.

DMC Global said that sales improvement was due to better-than-expected results at DynaEnergetics, DMC’s oilfield products business, which continues to benefit from increased well completion activity in North America’s unconventional oil and gas sector, and strong demand for its initiating and perforating systems. Sales at NobelClad, DMC’s explosion welding business, also exceeded prior forecasts.