Utah Medical Products, Inc. Appoints Director and Increases Quarterly Dividend

Rhea-AI Summary

Utah Medical Products (UTMD) announced two key developments: First, the appointment of Carrie Leigh to its Board of Directors. Leigh, who worked in direct sales positions for UTMD from 2004 to 2016, brings valuable experience from her role as manager of Global Direct End User Sales. Second, the company increased its quarterly cash dividend by 1.7% to $0.305 per share, payable on January 3, 2025, to shareholders of record as of December 16, 2024.

Positive

• Dividend increase of 1.7% to $0.305 per share
• Strategic board appointment with direct industry sales experience

Negative

• None.

Insights

Financial Analyst

The 1.7% dividend increase to $0.305 per share signals management's confidence in the company's financial stability and commitment to shareholder returns. For a small-cap medical device company with a market cap of $221.3M, maintaining and growing dividends demonstrates strong cash flow generation and disciplined capital allocation. The dividend hike, while modest, provides a positive signal about UTMD's financial health and future outlook. The board appointment of Carrie Leigh, with her extensive sales experience and intimate knowledge of UTMD's operations, could help drive revenue growth initiatives, particularly in the women's health and neonatal care segments where the company specializes.

SALT LAKE CITY, UT / ACCESSWIRE / November 5, 2024 / Utah Medical Products, Inc. (Nasdaq:UTMD) announces that its Board of Directors has appointed Carrie Leigh to its Board of Directors. Ms. Leigh, who was employed in direct sales positions for UTMD from 2004 to 2016, graduated with a B.S. in Communications from Santa Clara University and an MBA from the Northwestern University Kellogg School of Management. As she served in her last position as UTMD's manager of Global Direct End User Sales, the Board believes her robust understanding of the functional and strategic challenges that the Company faces will be integral for achieving future revenue growth.

In addition, the Board of Directors approved a quarterly cash dividend of thirty and one-half cents ($.305) per share of common stock payable on January 3, 2025 to shareholders of record at the close of business on December 16, 2024. This is a 1.7% increase over the prior regular quarterly cash dividend.

Utah Medical Products, Inc., with particular interest in health care for women and their babies, develops, manufactures and markets a broad range of disposable and reusable specialty medical devices recognized by clinicians in over a hundred countries around the world as the standard for obtaining optimal long term outcomes for their patients. For more information about Utah Medical Products, Inc., visit UTMD's website at www.utahmed.com.

Contact:
Brian Koopman
(801) 566-1200

SOURCE: Utah Medical Products, Inc.

View the original press release on accesswire.com

FAQ

What is UTMD's new quarterly dividend amount for 2025?

UTMD's new quarterly dividend is $0.305 per share, representing a 1.7% increase over the prior regular quarterly cash dividend.

When is UTMD's next dividend payment date?

UTMD's next dividend payment is scheduled for January 3, 2025, for shareholders of record as of December 16, 2024.

Who is the new board director appointed by UTMD?

UTMD appointed Carrie Leigh, a former employee who served as manager of Global Direct End User Sales from 2004 to 2016, to its Board of Directors.