Retractable Technologies, Inc. Declares Dividends to Series I and II Class B Convertible Preferred Stock Shareholders
December 21 2018 - 10:00AM
Business Wire
Retractable Technologies, Inc. (NYSE American: RVP),
(“Retractable”) 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 and including October 1,
2018 through date of conversion or December 31, 2018, whichever is
applicable. The dividends will be paid on January 18, 2019 to
shareholders of record as of the close of business on January 8,
2019.
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: potential tariffs, 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; foreign trade risk; 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: https://www.businesswire.com/news/home/20181221005044/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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