United-Guardian Declares Mid-Year Dividend
21 Mai 2020 - 6:01PM
United-Guardian, Inc. (NASDAQ:UG) announced today that the
company's Board of Directors, at its meeting on May 20, 2020,
declared a cash dividend of $0.42 per share, which will be paid on
June 17, 2020 to all stockholders of record on June 3, 2020. This
will be the 25th consecutive year that the company has paid a
dividend.
Ken Globus, President of United-Guardian,
stated, “We are pleased to announce that on June 17th we will be
paying a dividend of $0.42 a share to all stockholders of record as
of June 3rd. While many dividend-paying companies have
decided not to pay dividends during the Covid-19 pandemic, we have
always taken the position that whenever we are in a financial
position to do so, we would share our profitability with our
shareholders. Our company has been fortunate enough to have been
able to continue production and sales during this pandemic, and
sales in the first quarter of the year, as well as in April, were
strong. While it is always our preference to try to maintain the
dividend level of the previous year, the Board felt that in this
difficult year, with our expectation that it is likely that we will
experience a temporary decline in sales over the next few months,
the prudent course was to reduce the mid-year dividend, with the
hope that if the second half of the year is strong we might be able
to increase it. We are optimistic that sales of our pharmaceutical
and medical products will remain strong, and that sales of our
cosmetic ingredients will gradually increase as consumer demand for
cosmetic products increases. Taking all of these factors into
consideration, the Board of Directors concluded it would be in the
best interests of both the company and its shareholders to pay this
dividend.”
United-Guardian is a manufacturer of cosmetic
ingredients, personal and health care products, pharmaceuticals,
and specialty industrial products.
Contact: Ken Globus(631) 273-0900
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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