CONMED Corporation Declares Initial Quarterly Cash Dividend of $0.15
CONMED Corporation (NASDAQ: CNMD) announced today that its Board of Directors has adopted a cash dividend policy and declared an initial quarterly cash dividend of $0.15 per share. The initial quarterly cash dividend will be paid on April 5, 2012 to all shareholders of record as of March 15, 2012.
The Board expects that future cash dividends will be paid on a quarterly basis such that the total annual dividend rate based on the initial quarterly cash dividend will equal $0.60 per share, which is equivalent to a dividend yield of approximately 2.0% based on the closing price of CONMED's stock as of February 29, 2012. Any decision to pay future cash dividends will, however, be subject to Board approval, and will depend on the Company's future earnings, cash flow, financial condition, financial covenants and other relevant factors.
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