Retractable Technologies Announces Dividend Distribution for Shareholders
Retractable Technologies Declares Dividends for Preferred Stockholders
Retractable Technologies, Inc. (NYSE American: RVP) recently announced that its Board of Directors has declared dividends to holders of its Series II Class B and Series III Class B Convertible Preferred Stock. The declared dividends amount to $39,050.00 and $18,561.25, respectively, reflecting a steady pace of returns for its investors.
Understanding the Dividend Announcement
The Board's decision to issue dividends is a testament to Retractable's strong financial performance and its commitment to delivering value to its shareholders. With dividends accruing at a rate of $1.00 per share annually, this initiative underscores the company's ongoing efforts to reward its investors.
Period of Dividend Accrual
These dividends cover the period commencing on July 1, 2024, through September 30, 2024. Shareholders can expect payment on October 21, 2024, to those who are on record by the close of business on October 10, 2024. Such periodic dividends are critical for investors who rely on returns from their holdings.
About Retractable Technologies, Inc.
Retractable is recognized for its innovative medical products, dedicated to enhancing safety and minimizing the risk of needlestick injuries. Among its offerings are the VanishPoint and Patient Safe product lines. These products are engineered to significantly reduce such injuries, reflecting the company's commitment to healthcare safety.
Highlighted Products
The VanishPoint syringe is designed for safety, retracting the needle immediately after use to eliminate potential exposure to contaminants. The Patient Safe syringes contribute to preventing bloodstream infections, showcasing not only innovation but a responsible approach to health care solutions. The EasyPoint needle further extends its capabilities, allowing for flexible usage with various syringes and applications.
Market Distribution and Availability
Retractable’s safety medical products are distributed through a network of specialty and general line distributors, ensuring broad market access. This distribution strategy allows the company to reach a wide audience and cater to diverse medical needs.
Company Commitment to Shareholders
The announcement of dividends reflects Retractable's continued focus on shareholder value, reassuring investors of the company's forward momentum and strategic financial management. It sets a positive outlook for all stakeholders, affirming their investment in the future of healthcare safety solutions.
Frequently Asked Questions
What triggered the dividend declaration by Retractable Technologies?
The dividends were declared based on strong financial performance and the company’s commitment to rewarding its shareholders.
When will the dividends be paid to shareholders?
The dividends will be paid on October 21, 2024, to shareholders recorded by the close of business on October 10, 2024.
What are the main products offered by Retractable Technologies?
Retractable Technologies offers several safety medical products, including VanishPoint syringes and Patient Safe syringes, designed to minimize needlestick injuries.
How does Retractable ensure product safety?
The company designs its products with features that prevent needlestick injuries and reduce contamination risks, ensuring high safety standards in medical applications.
Where can I find more information about Retractable Technologies?
Further information can be accessed through the company's official website, which provides detailed insights into their products and corporate developments.
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