Retractable Technologies, Inc. Declares Dividends to Series I and II Class B Convertible Preferred Stock Shareholders
April 01 2016 - 12:06PM
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 $12,312.50 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, 2015 through date of
conversion or March 31, 2016, whichever is applicable. The
dividends will be paid on April 21, 2016 to shareholders of record
as of the close of business on April 11, 2016.
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 and
future Court decisions regarding current litigation; our ability to
maintain favorable third party manufacturing and 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 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 RTI's periodic
reports filed with the U.S. Securities and Exchange Commission.
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version on businesswire.com: http://www.businesswire.com/news/home/20160401005680/en/
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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