UTAH MEDICAL
PRODUCTS, INC.
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PRESS RELEASE |
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Utah Medical Products, Inc. Announces Special Dividend |
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Contact: Crystal Rios |
November 2, 2021 |
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(801) 566-1200 Salt Lake City, Utah - Utah Medical Products, Inc. (Nasdaq: UTMD) announces that its Board of Directors approved a special cash dividend of two dollars ($2.00) per share of common stock payable on December 29, 2021 to stockholders of record at the close of business on December 15, 2021. This dividend replaces the normal quarterly dividend, and will be paid in December rather than in early 2022. A key long term UTMD business objective has been to maximize returns for its stockholders. In recent years, the annual dividend distributed has been about $4 million per year. In 2019 and in 2021 to date (excluding the 2020 pandemic year in which net income was temporarily depressed), dividends represented about 28% of UTMD's net income (after a provision for corporate income taxes). Chairman Kevin Cornwell states, "I would like to help explain the rationale for this $7.3 million special dividend:
Investors are cautioned that this press release contains forward looking statements and that actual events may differ from those projected or expected. Utah Medical Products, Inc., with particular interest in health care for women and their babies, develops, manufactures and markets a broad range of disposable and reusable specialty medical devices recognized by clinicians in over a hundred countries around the world as the standard for obtaining optimal long term outcomes for their patients. For more information about Utah Medical Products, Inc., visit UTMD's website at www.utahmed.com.
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