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

Rhea-AI Summary

Retractable Technologies, Inc. (RVP) declared dividends for its Series II and Series III Class B Convertible Preferred Stock, amounting to $39,050.00 and $19,061.25 respectively. The dividends, accrued at $1.00 per share per annum, cover the period from April 1, 2022 to June 30, 2022. Shareholders of record by July 11, 2022 will receive payments on July 21, 2022. The company's products focus on preventing needlestick injuries and reducing infection risks in medical environments.

Positive

• Declared dividends of $39,050.00 for Series II and $19,061.25 for Series III Convertible Preferred Stock, indicating financial stability.
• Dividends accrued at $1.00 per share per annum, reflecting a commitment to returning value to shareholders.

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 April 1, 2022 through June 30, 2022. The dividends will be paid on July 21, 2022 to shareholders of record as of the close of business on July 11, 2022.

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: the impact of COVID-19 on all facets of logistics and operations, as well as costs, 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/20220630005787/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 are the dividend payment amounts for Retractable Technologies, Inc. (RVP)?

The declared dividends amount to $39,050.00 for Series II and $19,061.25 for Series III Convertible Preferred Stock.

When will Retractable Technologies, Inc. (RVP) pay its declared dividends?

The dividends will be paid on July 21, 2022 to shareholders of record as of the close of business on July 11, 2022.

What is the dividend accrual period for Retractable Technologies, Inc. (RVP)?

The dividends cover the period from April 1, 2022 to June 30, 2022.

How much is the dividend per share for Retractable Technologies, Inc. (RVP)?

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