CryoLife, Inc. (CRY) said Tuesday that its Board of Directors has approved the initiation of a quarterly cash dividend of $0.025 per share of common stock outstanding.
The initial quarterly cash dividend of $0.025 per share will be paid on September 21 to all common shareholders of record as of September 14. The ex-dividend date for the quarterly dividend is September 12.
CryoLife anticipates paying the quarterly dividends in March, June, September, and December of each year. Based on the number of shares currently outstanding, the company expects to pay a total annual dividend of about $2.7 million.
Steven Anderson, CryoLife's President and Chief Executive Officer, said, "In addition to the payment of cash dividends, the Company expects to allocate future operating cash flow to our product development pipeline, business development opportunities, and the potential continuation of our common share repurchases."
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