United-Guardian Declares Record Dividend
November 18 2021 - 9:00AM
United-Guardian, Inc. (NASDAQ:UG) announced today that the
company's Board of Directors, at its meeting on November 16, 2021,
declared a cash dividend of $0.65 per share, which will be paid on
December 7, 2021, to all stockholders of record on November 29,
2021.
Ken Globus, President of United-Guardian,
stated, “Despite how difficult 2020 was for many companies, we have
been fortunate enough to have recovered much of the sales volume we
lost when the pandemic was at its worst last year, and we expect to
end the year with significantly better financial results than we
had in 2020. Based on our year-to-date earnings, as well as our
expectations for a strong fourth quarter, the Board of Directors
concluded that the company’s financial position was strong enough
to not only pay a second dividend this year, but also to increase
that dividend. Accordingly, at its meeting on November 16th the
Board declared a dividend of $0.65 per share, an increase of 35%
over the $0.48 per share dividend the company paid earlier this
year, and an 81% increase over the $0.36 per share dividend the
company paid in December 2020. This is the largest dividend the
company has ever paid, and brings the total dividends paid this
year to $1.13, a new high for the company for regular dividends
paid in any year. In making this decision the Board took into
consideration the company’s capital requirements for the near
future, as well as the continuing impact the pandemic could have,
particularly in regard to supply chain issues. The Board is
confident that the company will be able to handle these issues and
will remain in excellent financial condition going into 2022.”
United-Guardian is a manufacturer of cosmetic
ingredients, personal and health care products, pharmaceuticals,
and specialty industrial products.
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Contact: |
Ken
Globus |
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(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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