Retractable Technologies, Inc. Declares Dividends to Series I and II Class B Convertible Preferred Stock Shareholders
March 31 2020 - 1:41PM
Business Wire
Retractable Technologies, Inc. (NYSE American: RVP) announced
today that its Board of Directors has declared dividends to holders
of its Series I Class B and Series II Class B Convertible Preferred
Stock in the amounts of $12,000.00 and $42,800.00, respectively.
The dividend amount is $0.125 per share for Series I Class B
shareholders and $0.25 per share for Series II Class B
shareholders. Dividends have accrued at 10% per annum and cover
amounts in arrears from December 31, 2019 through date of
conversion or March 31, 2020 whichever is applicable. The dividends
will be paid on April 20, 2020 to shareholders of record as of the
close of business on April 10, 2020.
Retractable manufactures and markets VanishPoint® and Patient
Safe® safety medical products and the EasyPoint® needle. The
VanishPoint® syringe, blood collection, and IV catheter products
are designed to prevent needlestick injuries and product reuse by
retracting the needle directly from the patient, effectively
reducing exposure to the contaminated needle. Patient Safe®
syringes are uniquely designed to reduce the risk of bloodstream
infections resulting from catheter hub contamination. The
EasyPoint® is a retractable needle that can be used with luer lock
syringes, luer slip syringes, and prefilled syringes to give
injections. The EasyPoint® needle also can be used to aspirate
fluids and for blood collection. Retractable's products are
distributed by various specialty and general line distributors.
For more information on Retractable, visit its website at
www.retractable.com.
Forward-looking statements in this press release are made
pursuant to the safe harbor provision of the Private Securities
Litigation Reform Act of 1995 and reflect Retractable's current
views with respect to future events. Retractable believes that the
expectations reflected in such forward-looking statements are
accurate. However, Retractable cannot assure you that such
expectations will materialize. Actual future performance could
differ materially from such statements.
Factors that could cause or contribute to such differences
include, but are not limited to, global pandemics, potential
tariffs, Retractable’s ability to maintain liquidity, maintenance
of patent protection, litigation, maintenance of favorable third
party manufacturing and supplier arrangements and relationships,
foreign trade risk, Retractable’s ability to quickly increase
capacity in response to an increase in demand, Retractable’s
ability to access the market, maintain or decrease production
costs, continue to finance research and development as well as
operations and expansion of production, the impact of larger market
players, specifically Becton Dickinson and Company, in providing
devices to the safety market; and other risks and uncertainties
that are detailed from time to time in Retractable's periodic
reports filed with the U.S. Securities and Exchange Commission.
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version on businesswire.com: https://www.businesswire.com/news/home/20200331005746/en/
Retractable Technologies, Inc. John W. Fort III, 888-806-2626 or
972-294-1010 Vice President and Chief Financial Officer
Retractable Technologies (AMEX:RVP)
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