Applied UV Declares Monthly Preferred Stock Dividend

Rhea-AI Summary

Applied UV, Inc. (NASDAQ: AUVI) has announced a cash dividend of $0.21875 per share for its 10.5% Series A Cumulative Perpetual Preferred Stock (NASDAQ: AUVIP). This dividend is set to be paid on or about March 15, 2023, to holders of record as of March 3, 2023. Applied UV is recognized for its proprietary, patented air and surface disinfection technologies, as well as its LED lighting and furnishings. The company serves various markets including healthcare, hospitality, and education through strategic partnerships and a global network of dealers and distributors.

Positive

• Declaration of a cash dividend of $0.21875 per share for 10.5% Series A Cumulative Perpetual Preferred Stock.
• Scheduled payment date for the dividend enhances shareholder value.

Negative

• None.

MOUNT VERNON, N.Y.--(BUSINESS WIRE)-- Applied UV, Inc. (Nasdaq CM: AUVI ) (“Applied UV” or the “Company”), a leading provider of a best in class suite of proprietary, patented, scientific and clinically proven, surface and air disinfection technologies (fixed, mobile and HVAC), LED lighting products and hotel furnishings used by clients globally, announces today its Board of Directors has authorized the cash dividend to holders of Applied UV’s 10.5% Series A Cumulative Perpetual Preferred Stock.

Holders of the 10.5% Series A Cumulative Perpetual Preferred Stock (Nasdaq: AUVIP) shall receive a cash dividend equal to $0.21875 per share.

The return of capital will be paid on or about March 15, 2023, to respective holders of record at the close of business on March 3, 2023.

About Applied UV

Applied UV, Inc. (“AUVI”) provides proprietary surface and air disinfection technology focused on Improving Indoor Air Quality (IAQ), specialty LED lighting and luxury mirrors and commercial furnishings all of which serves clients globally in both the commercial and retail segments.

Our products address the needs in the healthcare, hospitality, food preservation, cannabis, education, winery vertical markets. The Company has established strategic manufacturing partnerships and alliances including Canon, Acuity, Johnson Controls, Siemens, Grainger, and a global network of 64 dealers and distributors in 52 countries, offering a complete suite of products through its two wholly owned subsidiaries - SteriLumen, Inc. (“SteriLumen”) and Munn Works, LLC (“Munn Works”). SteriLumen owns brands and markets a portfolio of clinically proven products utilizing advanced UVC Carbon, Broad Spectrum UVC LED’s, Photo-catalytic oxidation (PCO) pathogen elimination technology, branded Airocide ®, Scientific Air™, Airoclean™ 420, Lumicide™, PUROHealth, PURONet, and LED Supply Company. Sterilumen’s proprietary platform suite of patented, surface and air technologies offers, the most complete pathogen disinfection platform including mobile, fixed and HVAC systems and software solutions interconnecting its entire portfolio suite into the IoT allowing customers to implement, manage and monitor IAQ measures recommended by the EPA across any enterprise. Sterilumen’s Lumicide™ platform applies the power of ultraviolet light (UVC) to destroy pathogens automatically, addressing the challenge of healthcare-acquired infections ("HAI’s) in several patented designs for infection control in healthcare. LED Supply Company, a full-service, wholesale distributor of LED lighting and controls throughout North America.

MunnWorks manufactures and sells custom luxury and backlit mirrors, and conference room & living spaces furnishings.

Our global list of Fortune 100 end users including Kaiser Permanente, NY Health+Hospitals, MERCY Healthcare, Baptist Health South Florida, New York City Transit, Samsung, JB Hunt, Boston Red Sox’s Fenway Park, JetBlue Park, France’s Palace of Versailles, Whole Foods, Del Monte Foods, U.S. Department of Veterans Affairs, Marriott, Hilton, Four Seasons and Hyatt, and more. For information on Applied UV, Inc., and its subsidiaries, please visit https://www.applieduvinc.com.

Forward-Looking Statements

The information contained herein may contain “forward‐looking statements.” Forward‐looking statements reflect the current view about future events. When used in this press release, the words “anticipate,” “believe,” “estimate,” “expect,” “future,” “intend,” “plan,” or the negative of these terms and similar expressions, as they relate to us or our management, identify forward‐looking statements. Such statements include, but are not limited to, statements contained in this press release relating to the view of management of Applied UV concerning its business strategy, future operating results and liquidity and capital resources outlook. Forward‐looking statements are based on the Company’s current expectations and assumptions regarding its business, the economy and other future conditions. Because forward–looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. The Company’s actual results may differ materially from those contemplated by the forward‐looking statements. They are neither statements of historical fact nor guarantees of assurance of future performance. We caution you therefore against relying on any of these forward‐looking statements. Factors or events that could cause the Company’s actual results to differ may emerge from time to time, and it is not possible for the Company to predict all of them. The Company cannot guarantee future results, levels of activity, performance, or achievements. Except as required by applicable law, including the securities laws of the United States, the Company does not intend to update any of the forward‐looking statements to conform these statements to actual results.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230221005108/en/

Brett Maas, Managing Principal

Hayden IR

brett@haydenir.com

(646) 536-7331

Source: Applied UV, Inc.

FAQ

What is the dividend amount for Applied UV's Series A Preferred Stock?

The dividend amount is $0.21875 per share.

When will the dividend be paid to shareholders?

The dividend will be paid on or about March 15, 2023.

What is the record date for the dividend payment?

The record date for the dividend payment is March 3, 2023.

What sectors does Applied UV serve?

Applied UV serves sectors including healthcare, hospitality, education, and food preservation.