With its chief executive projecting a "record-breaking" fiscal 1986, Ultrasystems Inc. on Wednesday announced a year-end dividend of 8 cents per share, the largest paid since the Irvine-based engineering and construction company went public in 1981.
The dividend, payable Feb. 28, 1986, to shareholders of record as of Feb. 14, 1986, is a 33% increase over last year's dividend of 6 cents a share.
"We're expecting our best year ever," said Phillip J. Stevens, president and chairman of the 17-year-old company. Later this month, he said, the company expects to announce contracts totaling $200 million for four separate power-plant projects in California.
In two weeks, the company is scheduled to begin marketing its newest product, a micro-cogeneration unit about the size of a refrigerator, which will convert natural gas into low-cost electricity, Stevens said.