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Applied UV has announced a cash dividend of $0.21875 per share for holders of its 10.5% Series A Cumulative Perpetual Preferred Stock (AUVIP). The dividend is scheduled for payment on or about August 15, 2022, to holders of record as of August 3, 2022. As a pathogen elimination technology company, Applied UV focuses on infection control across various sectors, utilizing advanced UVC technology for air purification and surface disinfection in healthcare and commercial settings.
Positive
Authorization of a cash dividend of $0.21875 per share for AUVIP holders.
Demonstrates company confidence and commitment to returning value to shareholders.
Negative
None.
MOUNT VERNON, N.Y.--(BUSINESS WIRE)--
Applied UV, Inc. (NasdaqCM: AUVI) (“Applied UV” or the “Company”), a pathogen elimination technology company that applies the power of narrow-range ultraviolet light (“UVC”) for surface areas and catalytic bioconversion technology for air purification to destroy pathogens safely, thoroughly, and automatically, today announced 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 August 15, 2022, to respective holders of record at the close of business on August 3, 2022.
About Applied UV
Applied UV is focused on the development and acquisition of technology that address infection control in the healthcare, hospitality, commercial and municipal markets. The Company has two wholly owned subsidiaries - SteriLumen, Inc. (“SteriLumen”) and Munn Works, LLC (“Munn Works”). SteriLumen’s connected platform for Data Driven Disinfection™ applies the power of ultraviolet light (UVC) to destroy pathogens safely, thoroughly, and automatically, addressing the challenge of healthcare-acquired infections (“HAIs”). Targeted for use in facilities that have high customer turnover such as hospitals, hotels, commercial facilities, and other public spaces, the Company’s Lumicide™ platform uses UVC LEDs in several patented designs for infection control in and around high-traffic areas, including sinks and restrooms, killing bacteria, viruses, and other pathogens residing on hard surfaces within devices’ proximity. The Company’s patented in-drain disinfection device, Lumicide Drain, is the only product on the market that addresses this critical pathogen intensive location. SteriLumen’s Airocide® air purification devices are research backed, clinically proven and developed for NASA with assistance from the University of Wisconsin. Airocide® is listed as an FDA Class II Medical device, utilizes a proprietary photocatalytic (PCO) bioconversion technology that draws air into a reaction chamber that converts damaging molds, microorganisms, dangerous airborne pathogens, destructive VOCs, allergens, odors and biological gasses into harmless water vapor and green carbon dioxide without producing ozone or other harmful byproducts. Airocide® applications include healthcare, hospitality, grocery chains, wine making facilities, commercial real estate, schools, dental offices, post-harvest, grocery, cannabis facilities and homes. For more information about Applied UV, Inc., and its subsidiaries, please visit the following websites: https://www.applieduvinc.com/; https://sterilumen.com/; https://www.airocide.com; https://kesscience.com; https://scientificairmanagement.com; and https://munnworks.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.
What is the dividend amount for Applied UV's preferred stock (AUVIP)?
The dividend amount for Applied UV's 10.5% Series A Cumulative Perpetual Preferred Stock (AUVIP) is $0.21875 per share.
When will the dividend be paid to AUVIP shareholders?
The dividend will be paid on or about August 15, 2022, to holders of record as of August 3, 2022.
What does Applied UV do?
Applied UV focuses on pathogen elimination technology, utilizing UVC light for air and surface disinfection in healthcare, hospitality, and commercial markets.
What is the significance of the dividend announcement for shareholders?
The dividend announcement reflects the company's confidence in its financial health and commitment to providing returns to its shareholders.
