Retractable Technologies, Inc. Declares Dividends to Series I and II Class B Preferred Stock Shareholders
June 26 2013 - 12:25PM
Business Wire
Retractable Technologies, Inc. (NYSE MKT: 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 $12,937.50 and $44,675.00, 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 March 31, 2013 through date of conversion
or June 30, 2013, whichever is applicable. The dividends will be
paid on July 22, 2013 to shareholders of record as of the close of
business on July 10, 2013.
Retractable manufactures and markets VanishPoint® and Patient
Safe® safety medical products. 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. Retractable's products are distributed
by various specialty and general line distributors.
For more information on Retractable, visit our website at
www.vanishpoint.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 our current views with
respect to future events. We believe that the expectations
reflected in such forward-looking statements are accurate. However,
we cannot assure you that such expectations will materialize. Our
actual future performance could differ materially from such
statements.
Factors that could cause or contribute to such differences
include, but are not limited to: our ability to maintain liquidity;
our maintenance of patent protection; the impact of current
litigation; our ability to maintain favorable supplier arrangements
and relationships; our ability to quickly increase capacity in
response to an increase in demand; our ability to access the
market; our ability to maintain or lower production costs; our
ability to continue to finance research and development as well as
operations and expansion of production; the increased interest 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.
Retractable Technologies, Inc.Douglas W. Cowan, 888-806-2626 or
972-294-1010Vice President and Chief Financial Officer
Retractable Technologies (AMEX:RVP)
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