United-Guardian Announces Mid-Year Dividend
20 Mai 2016 - 3:00PM
United-Guardian, Inc. (NASDAQ:UG) announced today that the
company's Board of Directors, at its meeting on May 18, 2016,
declared a cash dividend of $0.35 per share, to be paid on June 15,
2016 to all stockholders of record as of the close of business on
June 1, 2016. This will be the 21st consecutive year that the
company has paid a dividend.
Ken Globus, President of United-Guardian,
stated, “Although sales and earnings for the first half of 2016 are
still expected to be lower than last year’s record six-month
results, the Board of Directors is confident that the
previously-explained overstock situation in China will be improving
as the year progresses. In addition, both the Board and management
believe that we will experience a steady increase in sales of the
new dosage form of Renacidin, our urological drug product that was
approved by the FDA in December 2015 and started shipping in April.
For those reasons, the Board felt that there was sufficient
justification, and more than enough cash reserves, to distribute a
dividend of 35 cents per share to our stockholders.”
United-Guardian is a manufacturer of cosmetic
ingredients, personal and health care products, pharmaceuticals,
and specialty industrial products. For more information, please
contact Robert Rubinger at evp@u-g.com or (631) 273-0900, or visit
the company’s web site at www.u-g.com.
NOTE: This press release contains
both historical and "forward-looking statements” within the meaning
of the Private Securities Litigation Reform Act of 1995.
These statements about the company’s expectations or beliefs
concerning future events, such as financial performance, business
prospects, and similar matters, are being made in reliance upon the
“safe harbor” provisions of that Act. Such statements are subject
to a variety of factors that could cause our actual results or
performance to differ materially from the anticipated results or
performance expressed or implied by such forward-looking
statements. For further information about the risks and
uncertainties that may affect the company’s business please refer
to the company's reports and filings with the Securities and
Exchange Commission.
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