United-Guardian Declares Year-End Dividend
November 20 2020 - 11:00AM
United-Guardian, Inc. (NASDAQ:UG) announced today that the
company's Board of Directors, at its meeting on November 18, 2020,
declared a cash dividend of $0.36 per share, which will be paid on
December 8, 2020 to all stockholders of record on December 1, 2020.
Ken Globus, President of United-Guardian,
stated, “Many companies have chosen not to pay a dividend this year
due to the impact of the coronavirus pandemic. Our Board of
Directors felt, however, that with our strong balance sheet, along
with the fact that we are still having a very profitable year
despite the pandemic, that it would be in the best interests of the
company and its shareholders to pay a year-end dividend. The Board
did take into consideration the negative impact the pandemic had on
sales and earnings in the second half of this year, and decided
that it would be prudent to reduce the dividend. We remain
optimistic that sales of our pharmaceutical products, which have
increased this year, will remain strong, and that sales of our
cosmetic ingredients will begin to recover once the pandemic is
under control and the global economy improves. Once that happens,
we will be in a better position to evaluate the advisability of
once again increasing our dividend.”
United-Guardian is a manufacturer of cosmetic
ingredients, personal and health care products, pharmaceuticals,
and specialty industrial products.
Contact: |
Ken Globus(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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