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

Rhea-AI Summary

Retractable Technologies, Inc. (NYSE American: RVP) has announced dividend declarations for its Series II Class B and Series III Class B Convertible Preferred Stock shareholders. The dividends, amounting to $39,050.00 and $18,561.25 respectively, cover the period from July 1, 2024 to September 30, 2024. Accruing at $1.00 per share per annum, the dividends will be paid on October 21, 2024 to shareholders of record as of October 10, 2024.

Retractable manufactures and markets safety medical products including VanishPoint®, Patient Safe®, and EasyPoint® needles, designed to prevent needlestick injuries, reduce product reuse, and minimize the risk of bloodstream infections. These products are distributed through specialty and general line distributors.

Positive

• Declaration of dividends for Series II and III Class B Preferred Stock shareholders
• Consistent dividend accrual rate of $1.00 per share per annum
• Diverse portfolio of safety medical products addressing key healthcare concerns

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 July 1, 2024 through September 30, 2024. The dividends will be paid on October 21, 2024 to shareholders of record as of the close of business on October 10, 2024.

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: tariffs; material changes in demand; 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/20240930655064/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 Retractable Technologies (RVP) for Series II Class B Preferred Stock?

Retractable Technologies (RVP) has declared a dividend of $39,050.00 for Series II Class B Preferred Stock shareholders.

When will Retractable Technologies (RVP) pay the declared dividends?

Retractable Technologies (RVP) will pay the declared dividends on October 21, 2024.

What period do the dividends cover for Retractable Technologies (RVP) preferred shareholders?

The dividends cover the period from July 1, 2024 through September 30, 2024 for Retractable Technologies (RVP) preferred shareholders.

What is the dividend accrual rate for Retractable Technologies (RVP) preferred stock?

The dividend accrual rate for Retractable Technologies (RVP) preferred stock is $1.00 per share per annum.