United-Guardian Announces Mid-Year Dividend

HAUPPAUGE, N.Y., July 14, 2023 (GLOBE NEWSWIRE) — United-Guardian, Inc. (NASDAQ:UG) announced today that the company’s Board of Directors, at its meeting on July 12, 2023, declared a cash dividend of $0.10 per share, to be paid on August 2, 2023, to all stockholders of record as of the close of business on July 26, 2023. This will be the 28^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 10 cents per share to our stockholders. While this dividend will represent a lower percentage of our earnings than in previous years, the Board of Directors has chosen to retain more of the Company’s earnings as we embark on a new phase of growth development. We are in the process of formulating a growth strategy that we anticipate will require additional capital in the long term. We believe that retaining a higher percentage of earnings will enable us to provide our shareholders with greater returns in the future as our sales and earnings increase.”

United-Guardian is a manufacturer of cosmetic ingredients, personal and health care products, and pharmaceuticals.

NOTE:
This press release contains both historical and “forward-looking statements” within the meaning of the Private Securities
Litigation
Reform
Act
of
1995.
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company’s
expectations
or
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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
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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
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