Retractable Technologies, Inc. Declares Dividends to Series I and II Class B Convertible Preferred Stock Shareholders
July 06 2016 - 11:17AM
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 April 1, 2016 through date of conversion or
June 30, 2016, whichever is applicable. The dividends will be paid
on July 28, 2016 to shareholders of record as of the close of
business on July 18, 2016.
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 prefill 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.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 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: Retractable’s ability to maintain
liquidity; Retractable’s maintenance of patent protection; the
impact of current and future Court decisions regarding current
litigation; Retractable’s ability to maintain favorable third party
manufacturing and supplier arrangements and relationships;
Retractable’s ability to quickly increase capacity in response to
an increase in demand; Retractable’s ability to access the market;
Retractable’s ability to maintain or lower production costs;
Retractable’s 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
Retractable’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/20160706006015/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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