UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
October 29, 2013
(Date of the earliest event reported)
Simulations Plus, Inc.
(Exact name of registrant as specified in its charter)
| California | 001-32046 | 95-4595609 |
| (State or other jurisdiction of incorporation) | (Commission File Number) | (I.R.S. Employer Identification No.) |
42505 10th Street West, Lancaster, California 93534-7059
(Address of principal executive offices) (Zip Code)
661-723-7723
Registrant's telephone number, including area code
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:
[_] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[_] Soliciting material pursuant to Rule 14z-12 under Exchange Act (17 CFR 240.14a-12)
[_] Pre-commencement communications pursuant to Rule 14d-2(b) under Exchange Act (17 CFR 240.14d-2(b))
[_] Pre-commencement communications pursuant to Rule 13e-4(c) under Exchange Act (17 CFR 240.13e-4(c))
Item 7.01 Regulation FD Disclosure
On October 29, 2013, Simulations Plus, Inc., a California corporation (the "Company"), issued a press release announcing that its board of directors has declared a quarterly cash dividend of $0.04 per share of common stock, payable on November 15, 2013, to shareholders of record on November 8, 2013.
A copy of press release is attached hereto as Exhibit 99.1 and incorporated herein by reference.
The information contained in this Current Report on Form 8-K shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, nor shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended (the "Securities Act"), or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing. The information set forth in this Current Report on Form 8-K shall not be deemed an admission as to the materiality of any information in this report on Current Report on Form 8-K that is required to be disclosed solely to satisfy the requirements of Regulation FD.
CAUTION REGARDING FORWARD-LOOKING STATEMENTS
This Current Report on Form 8-K may contain forward-looking statements that are made pursuant to the safe harbor provisions of Section 21E of the Exchange Act. The forward-looking statements in this Current Report on Form 8-K are not historical facts, do not constitute guarantees of future performance and are based on numerous assumptions which, while believed to be reasonable, may not prove to be accurate. Any forward-looking statements in this Current Report on Form 8-K do not constitute guarantees of future performance and involve a number of factors that could cause actual results to differ materially, including risks more fully described in our most recently filed Quarterly Report on Form 10-Q and Annual Report on Form 10-K. The Company assumes no obligation to update any forward-looking information contained in this Current Report or with respect to the announcements described herein.
Item 9.01 Financial Statements and Exhibits
(c) Exhibits
| 99.1 | Press release issued on October 29, 2013. |
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 thereunto duly authorized.
| SIMULATIONS PLUS, INC. | ||
| Dated: October 29, 2013 | By: | /s/ Momoko Beran |
| Momoko Beran Chief Financial Officer | ||
Exhibit 99.1
Simulations Plus
Integrating Science and Software
For Further Information:
Simulations Plus, Inc.
42505 10th Street West
Lancaster, CA 93534-7059
| CONTACT: | ||
| Simulations Plus Investor Relations | Hayden IR | |
| Ms. Renée Bouché | Mr. Cameron Donahue | |
| 661-723-7723 | 651-653-1854 | |
| renee@simulations-plus.com | cameron@haydenir.com |
For Immediate Release:
October 29, 2013
Simulations Plus Announces Another Quarterly Cash Dividend Increase
Cash dividend increased to $0.04 per share
LANCASTER, CA, October 29, 2013 – Simulations Plus, Inc. (NASDAQ: SLP), a leading provider of simulation and modeling software for pharmaceutical discovery and development, today announced that its Board of Directors has decided to distribute an increased cash dividend in November.
In February 2012, the Board declared a planned ongoing dividend of $0.05 per share per quarter and dividends were distributed on March 1, May 8, August 10, and November 13, 2012. In December 2012, the Company declared an accelerated dividend distribution of $0.14 per share, consisting of the planned $0.05 per share dividend for February 2013 plus an additional $0.03 per share for the expected May, August, and November 2013 distributions. The board subsequently increased the May and August 2013 distributions by 50%, from the planned $0.02 to $0.03 per share, and dividends were distributed on May 10, and August 15, 2013. The board has now increased the planned November distribution by 100%, from $0.02 per share to $0.04 per share. This dividend will be distributed on Friday, November 15, 2013, for shareholders of record as of Friday, November 8, 2013.
Ms. Momoko Beran, chief financial officer of Simulations Plus, said: “The board has decided to increase the dividend to shareholders again this quarter as a result of our continued excellent financial performance during fiscal year 2013. Our cash as of today is about $10.9 million, and this dividend distribution will use about $640,000, so cash is expected to remain above $10 million.”
Walt Woltosz, chairman and chief executive officer of Simulations Plus, added, “The Board of Directors has once again demonstrated that it believes in rewarding our loyal shareholders by returning a portion of our excess cash in the form of dividends. Of course, the board always has the discretion of discontinuing or decreasing the dividend in accordance with the cash needs of the business.”
About Simulations Plus, Inc.
Simulations Plus, Inc., is a premier developer of groundbreaking drug discovery and development simulation and modeling software which is licensed to and used in the conduct of drug research by major pharmaceutical, biotechnology, agrochemical, and food industry companies worldwide. The Company is headquartered in Southern California and trades on the NASDAQ Capital Market under the symbol “SLP.” For more information, visit our Web site at www.simulations-plus.com.
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995 – With the exception of historical information, the matters discussed in this press release are forward-looking statements that involve a number of risks and uncertainties. Words like “believe,” “expect” and “anticipate” mean that these are our best estimates as of this writing, but that there can be no assurances that expected or anticipated results or events will actually take place, so our actual future results could differ significantly from those statements. Factors that could cause or contribute to such differences include, but are not limited to: our ability to maintain our competitive advantages, acceptance of new software and improved versions of our existing software by our customers, the general economics of the pharmaceutical industry, our ability to finance growth, our ability to continue to attract and retain highly qualified technical staff, our ability to identify and close acquisitions on terms favorable to the Company, and a sustainable market. Further information on our risk factors is contained in our quarterly and annual reports as filed with the Securities and Exchange Commission.