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

Rhea-AI Summary

Retractable Technologies, Inc. (AMEX: RVP) announced dividends for its Series II and Series III Class B Convertible Preferred Stock, totaling $39,050.00 and $19,061.25, respectively. The dividends have accrued at $1.00 per share from January 1, 2023 to March 31, 2023, with payment scheduled for April 20, 2023, to shareholders of record as of April 10, 2023. Retractable manufactures safety medical products aimed at reducing needlestick injuries, including VanishPoint^® syringes and Patient Safe^® products.

Positive

• Dividends declared total $58,111.25, demonstrating commitment to shareholder returns.
• Dividends accrued at $1.00 per share, indicating consistent income for preferred stockholders.

Negative

• None.

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 $19,061.25, respectively. Dividends have accrued at $1.00 per share per annum. The dividends cover the period beginning January 1, 2023 through March 31, 2023. The dividends will be paid on April 20, 2023 to shareholders of record as of the close of business on April 10, 2023.

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: supply chain disruptions, Retractable’s ability to scale up production volumes in response to an increase in demand, potential 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/20230331005393/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 total amount of dividends declared by Retractable Technologies, Inc. for the first quarter of 2023?

Retractable Technologies, Inc. declared total dividends of $58,111.25 for the first quarter of 2023.

When will Retractable Technologies, Inc. pay its dividends?

Dividends will be paid on April 20, 2023, to shareholders of record as of April 10, 2023.

What is the dividend per share for Retractable Technologies, Inc. preferred stock?

The dividends have accrued at $1.00 per share per annum.

How does Retractable Technologies, Inc. ensure safety in its medical products?

Retractable Technologies, Inc. manufactures products like VanishPoint^® syringes designed to prevent needlestick injuries by retracting the needle after use.