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

Rhea-AI Summary

Retractable Technologies (RVP) has declared dividends for its Series II and Series III Class B Convertible Preferred Stock shareholders. The dividends amount to $39,050.00 and $18,561.25 respectively, accruing at $1.00 per share annually. The dividends cover Q4 2024 (October 1 - December 31, 2024) and will be paid on January 20, 2025 to shareholders of record as of January 10, 2025.

The company manufactures safety medical products including VanishPoint®, Patient Safe®, and EasyPoint® needles, designed to prevent needlestick injuries and reduce infection risks through various safety mechanisms.

Positive

• Consistent dividend payment maintained for preferred stockholders
• Total dividend distribution of $57,611.25 demonstrates financial stability

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 $18,561.25, respectively. Dividends have accrued at $1.00 per share per annum. The dividends cover the period beginning October 1, 2024 through December 31, 2024. The dividends will be paid on January 20, 2025 to shareholders of record as of the close of business on January 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/20241230660846/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

When will RVP pay its Q4 2024 preferred stock dividends?

RVP will pay the Q4 2024 preferred stock dividends on January 20, 2025 to shareholders of record as of January 10, 2025.

How much is RVP's Series II Class B preferred stock dividend for Q4 2024?

RVP's Series II Class B preferred stock dividend is $39,050.00 for Q4 2024.

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

RVP's preferred stock dividends accrue at $1.00 per share per annum.

What is the total dividend amount RVP is paying for Q4 2024?

RVP is paying a total of $57,611.25 in dividends ($39,050.00 for Series II and $18,561.25 for Series III).

What period do RVP's latest preferred stock dividends cover?

The dividends cover the period from October 1, 2024 through December 31, 2024 (Q4 2024).