CLEARWATER, Fla. — Nicholas Financial recently announced that its board of directors has declared a cash dividend of $0.10 per share on its common stock.

The dividend is to be paid on Sept. 20 to shareholders of record as of Sept. 13, management noted.

Peter Vosotas, chairman and chief executive officer at Nicholas Financial, remarked on the news, stressing, “Our capital position and continued confidence in our earnings capability played a large part in the board of director’s decision to declare a cash dividend."

Subject to market conditions and profitability targets, the company predicted it will continue to declare quarterly cash dividends in the future, however no assurances can be given, it noted.

Moving on to highlight the company’s earnings for the fiscal year ending March 31, Nicholas Financial reported earnings of $1.41 per share during the period.

Also, in the first quarter of 2012, the company reported earnings of $0.44 per share.

Editor's Note: For a more detailed view of Nicholas Financial's earnings report, see the recent SubPrime Auto Finance News story here.