Packaging

CTI Industries Corporation Declares Dividend

Monday 13. December 2010 - CTI Industries Corporation (NASDAQ: CTIB), a manufacturer and marketer of flexible packaging and storage products, laminated films and novelty balloons, today announced that the Board of Directors has declared a dividend of Five Cents ($0.05) per share. The record date for determining shareholders entitled to receive the dividend is December 20, 2010. The dividend will be paid on or about December 28, 2010.

Stephen M. Merrick, Chief Financial Officer of the Company, stated, “Based upon CTI achieving consistent profitability over a period of almost three years, and in light of the Company’s financial condition, the Board of Directors has determined to declare the second cash dividend to be paid to its shareholders, and to consider the declaration of dividends on semi-annual basis in the future.”
The declaration of future dividends will be determined by the Board of Directors from time to time taking into account the results of operation, financial condition and financial commitments of the Company as well as such other factors as the Board deems appropriate. The timing and amount of any future dividends will be determined by the Board of Directors, in their sole discretion, from time to time.
Statements made in this release that are not historical facts are “forward-looking” statement (as defined in the Private Securities Litigation Reform Act of 1995) that involve risks and uncertainties and are subject to change at any time. These “forward-looking” statements may include, but are not limited to, statements containing words such as “may,” “should,” “could,” “would,” “expect,” “plan,” “goal,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “continue,” or similar expressions. Factors that could cause results to differ are identified in the public filings of the Company with the Securities and Exchange Commission. More information on factors that could affect CTI’s business and financial results are included in its public filings made with the Securities and Exchange Commission, including its Annual Report on Form 10-K and Quarterly Reports on Form 10-Q.