HAUPPAUGE, N.Y. - United-Guardian, Inc. (NASDAQ:UG), a diversified manufacturer of pharmaceuticals and personal care products, has declared a quarterly cash dividend of $0.25 per share, a significant increase from the $0.10 per share paid out in the previous year. This announcement was made following a Board of Directors meeting held on Monday.
The dividend is payable on February 20, 2024, to shareholders of record at the close of business on February 12, 2024. This marks the 29th consecutive year that United-Guardian has paid dividends to its shareholders.
President Donna Vigilante expressed satisfaction with the board's decision to raise the dividend, saying, "Even with this increase in the dividend we will still be retaining a higher percentage of the Company™s earnings than we have in many previous years, which will ensure that we have sufficient capital to support our growth targets as we move into 2024. This will include the hiring of additional personnel to more effectively implement some of our expanded marketing activities. As we move through 2024 we will continue to balance our capital requirements with the interests of our stockholders."
United-Guardian's operations span the production of cosmetic ingredients, personal and health care products, and pharmaceuticals.
This report is based on a press release statement from United-Guardian, Inc.
InvestingPro Insights
United-Guardian's recent announcement of an increased quarterly cash dividend is a testament to its stable financial position, as reflected in key metrics from InvestingPro. The company's market capitalization stands at a modest $36.07M, with a healthy P/E ratio of 14.3, which adjusts slightly higher to 15.12 when looking at the last twelve months as of Q3 2023. This suggests that the stock may be trading at a reasonable earnings multiple, aligning with the InvestingPro Tip that United-Guardian is trading at a low earnings multiple.
Moreover, the company's commitment to returning value to shareholders is evident not only in its latest dividend increase but also in its impressive track record of maintaining dividend payments for 28 consecutive years, another highlight from the InvestingPro Tips. This consistent performance is supported by a strong return over the last three months, with a price total return of 33.05%, indicating positive short-term momentum for the stock.
For those interested in deeper analysis and additional insights, there are more InvestingPro Tips available for United-Guardian. Subscribers to InvestingPro can benefit from an exclusive New Year sale with discounts of up to 50%. Use coupon code SFY24 for an additional 10% off a 2-year InvestingPro+ subscription, or SFY241 for an additional 10% off a 1-year subscription, to unlock valuable insights that could inform your investment decisions.
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