SALT LAKE CITY - Utah Medical Products, Inc. (NASDAQ:UTMD), a global provider of medical devices, has declared a quarterly cash dividend of thirty cents ($.30) per share, an increase from the dividend issued in the corresponding quarter of the previous year. The dividend is scheduled for payment on April 3, 2024, to shareholders of record as of the close of business on March 15, 2024.
This announcement marks a 1.7% rise from the dividend declared in the same quarter last year.
Utah Medical Products specializes in healthcare products for women and their babies, developing and marketing a wide array of disposable and reusable specialty medical devices.
This news is based on a press release statement from Utah Medical Products, Inc.
InvestingPro Insights
Utah Medical Products, Inc. (NASDAQ:UTMD) has shown a consistent approach to returning value to its shareholders, as evidenced by the recent dividend increase. Amidst the market dynamics, UTMD's commitment to maintaining dividend payments over an impressive span of two decades stands out. According to InvestingPro Tips, the company has maintained dividend payments for 20 consecutive years, highlighting a stable financial discipline and a shareholder-friendly policy.
Furthermore, the company's financial health is underlined by a robust balance sheet. UTMD holds more cash than debt, providing it with a strong liquidity position to navigate economic uncertainties. This is a reassuring sign for investors, particularly in an environment where many companies are grappling with high leverage.
InvestingPro Data paints a detailed picture of UTMD's financials. The company's market capitalization stands at 267.57 million USD, with a trailing twelve-month P/E ratio of 14.67, which is slightly lower than the current P/E ratio of 15.89. This indicates a reasonable valuation in the context of its earnings. Additionally, the company's gross profit margin for the last twelve months as of Q4 2023 is a healthy 59.81%, showing a strong ability to control costs and maintain profitability.
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