United-Guardian Announces Dividend Increase

Rhea-AI Summary

United-Guardian (NASDAQ: UG) announced a cash dividend of $0.35 per share, payable on July 31, 2024, to stockholders of record as of July 23, 2024. This marks the 29th consecutive year of dividend payments by the company.

The dividend represents a 40% increase over the $0.25 per share paid earlier this year and a 250% increase over the $0.10 dividend paid last July. President Donna Vigilante emphasized the balance between supporting growth initiatives and providing strong dividends to stockholders.

United-Guardian manufactures cosmetic ingredients, medical lubricants, sexual wellness ingredients, and pharmaceuticals.

Positive

• Dividend increase of 40% over the previous dividend of $0.25 per share.
• 250% increase from the $0.10 dividend paid last July.
• 29 consecutive years of dividend payments, demonstrating consistent shareholder returns.

Negative

• None.

HAUPPAUGE, N.Y., July 12, 2024 (GLOBE NEWSWIRE) -- United-Guardian, Inc. (NASDAQ:UG) announced today that the company's Board of Directors, at its meeting on July 10, 2024, declared a cash dividend of $0.35 per share, to be paid on July 31, 2024, to all stockholders of record as of the close of business on July 23, 2024. This will be the 29^th consecutive year that the company has paid a dividend.

Donna Vigilante, President of United-Guardian, stated, “I am pleased to report that the company’s Board of Directors has decided to distribute a dividend of $0.35 per share to our stockholders. This one dividend is equal to the total of the last two dividends the company paid, and represents a 40% increase over the $0.25 per share dividend the company paid earlier this year, and a 250% increase over the $0.10 dividend paid last July. While we remain committed to using a portion of our earnings to support our growth initiatives, we also believe it is important to provide strong dividends to our stockholders when it is in the best interests of the company and its stockholders to do so.”

United-Guardian is a manufacturer of cosmetic ingredients, medical lubricants, sexual wellness ingredients and pharmaceuticals.

Contact:	Donna Vigilante
	(631) 273-0900

NOTE: This press release contains both historical and "forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements about the company’s expectations or beliefs concerning future events, such as financial performance, business prospects, and similar matters, are being made in reliance upon the “safe harbor” provisions of that Act. Such statements are subject to a variety of factors that could cause our actual results or performance to differ materially from the anticipated results or performance expressed or implied by such forward-looking statements. For further information about the risks and uncertainties that may affect the company’s business please refer to the company's reports and filings with the Securities and Exchange Commission.

FAQ

What is the new dividend amount for UG stock in July 2024?

The new dividend amount announced for UG stock is $0.35 per share, payable on July 31, 2024.

When is the record date for UG's dividend for July 2024?

The record date for the dividend is July 23, 2024.

How does the new UG dividend compare to previous dividends?

The new dividend of $0.35 per share represents a 40% increase from the $0.25 per share paid earlier this year, and a 250% increase from the $0.10 paid last July.

How many years has UG consistently paid dividends?

UG has consistently paid dividends for 29 consecutive years.