Applied UV Declares Monthly Preferred Stock Dividend

Rhea-AI Summary

Applied UV, Inc. (AUVI) has announced a cash dividend of $0.21875 per share for its 10.5% Series A Cumulative Perpetual Preferred Stock (AUVIP). This return of capital is scheduled for payment on May 16, 2022, to shareholders on record as of the close of business on May 4, 2022. The company specializes in pathogen elimination technology using UVC light and bioconversion methods for air purification, targeting markets such as healthcare and hospitality.

Positive

• Cash dividend of $0.21875 per share authorized.
• Confidence in maintaining dividend despite market conditions.

Negative

• Potential risks associated with dependency on dividend payments affecting cash reserves.

MOUNT VERNON, NY--(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 May 16, 2022, to respective holders of record at the close of business on May 4, 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220422005014/en/

Applied UV Inc.

John F. Andrews

Applied UV CEO, Director

john.andrews@applieduvinc.com

Brett Maas, Managing Principal

Hayden IR

brett@haydenir.com

(646) 536-7331

Source: Applied UV, Inc.

FAQ

What is the dividend amount for AUVI's preferred stock?

The dividend amount is $0.21875 per share.

When is the payment date for the dividend?

The payment date is scheduled for May 16, 2022.

What is the record date for the dividend payment?

The record date is May 4, 2022.

How often does Applied UV pay dividends on its preferred stock?

The company pays dividends on its preferred stock as authorized by the Board of Directors.