Retractable Technologies, Inc. Declares Dividends to Series II and III Class B Preferred Stock Shareholders

Rhea-AI Summary

Retractable Technologies (NYSE American: RVP) has announced dividend declarations for its Series II and Series III Class B Convertible Preferred Stock shareholders. The dividends, accruing at $1.00 per share annually, amount to $39,050.00 and $18,561.25 respectively for Q1 2025.

The dividends cover January 1, 2025 through March 31, 2025, with payment scheduled for April 21, 2025. Shareholders of record as of April 10, 2025 will be eligible. The company specializes in safety medical products including VanishPoint®, Patient Safe®, and EasyPoint® needles, designed to prevent needlestick injuries and reduce infection risks.

Positive

• Consistent dividend payment maintained for preferred stockholders
• Diverse portfolio of safety medical products
• Strong focus on needlestick injury prevention technology

Negative

• dividend amount suggests modest cash distribution
• Preferred stock dividends take precedence over common stockholders

LITTLE ELM, Texas--(BUSINESS WIRE)-- Retractable Technologies, Inc. (“Retractable”) (NYSE American: RVP) announced today that its Board of Directors has declared dividends to holders of its Series II Class B and Series III Class B Convertible Preferred Stock in the amounts of $39,050.00 and $18,561.25, respectively. Dividends have accrued at $1.00 per share per annum. The dividends cover the period beginning January 1, 2025 through March 31, 2025. The dividends will be paid on April 21, 2025 to shareholders of record as of the close of business on April 10, 2025.

Retractable manufactures and markets VanishPoint^® and Patient Safe^® safety medical products and the EasyPoint^® needle. The VanishPoint^® syringe, blood collection, and IV catheter products are designed to prevent needlestick injuries and product reuse by retracting the needle directly from the patient, effectively reducing exposure to the contaminated needle. Patient Safe^® syringes are uniquely designed to reduce the risk of bloodstream infections resulting from catheter hub contamination. The EasyPoint^® is a retractable needle that can be used with luer lock syringes, luer slip syringes, and prefilled syringes to give injections. The EasyPoint^® needle also can be used to aspirate fluids and for blood collection. Retractable's products are distributed by various specialty and general line distributors.

For more information on Retractable, visit its website at www.retractable.com.

Forward-looking statements in this press release are made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995 and reflect Retractable's current views with respect to future events. Retractable believes that the expectations reflected in such forward-looking statements are accurate. However, Retractable cannot assure you that such expectations will materialize. Actual future performance could differ materially from such statements.

Factors that could cause or contribute to such differences include, but are not limited to: material changes in demand, tariffs; Retractable's ability to maintain liquidity; Retractable's maintenance of patent protection; Retractable's ability to maintain favorable third party manufacturing and supplier arrangements and relationships; foreign trade risk; Retractable's ability to access the market; production costs; the impact of larger market players in providing devices to the safety market; and other risks and uncertainties that are detailed from time to time in Retractable's periodic reports filed with the U.S. Securities and Exchange Commission.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250328446585/en/

Retractable Technologies, Inc.

John W. Fort III, 888-806-2626 or 972-294-1010

Vice President, Chief Financial Officer, and Chief Accounting Officer

Source: Retractable Technologies, Inc.

FAQ

What is the dividend amount declared by RVP for Q1 2025?

RVP declared $39,050.00 for Series II and $18,561.25 for Series III Class B Preferred Stock shareholders.

When is the dividend payment date for RVP's Q1 2025 preferred stock dividend?

The dividend payment date is April 21, 2025, for shareholders of record as of April 10, 2025.

What is the annual dividend rate for RVP's preferred stock shares?

The preferred stock shares accrue dividends at $1.00 per share per annum.

What are the main safety medical products manufactured by RVP?

RVP manufactures VanishPoint®, Patient Safe® safety medical products, and EasyPoint® needles.