The Female Health Company Declares First Quarter Dividend and Extends Stock
Repurchase Program
CHICAGO, Jan. 3, 2013 /PRNewswire via COMTEX/ -- The Female Health Company
(nasdaq-cm:FHCO) today announced that its Board of Directors has declared a
quarterly cash dividend of $0.06 per share. The dividend is payable February 6,
2013 to stockholders of record as of January 30, 2013. In January 2010, the
Company announced the initiation of a cash dividend program and has subsequently
paid twelve consecutive quarterly dividends.
The Board of Directors also extended the Company's stock repurchase program
through December 31, 2013. The program was previously due to expire at the end of
calendar year 2012 and has a repurchase cap of 3 million shares of common stock.
The Company has repurchased approximately two million shares under the program,
and approximately one million shares remain for potential repurchase.
"The Company's Board of Directors and management team believe that the payment of
cash dividends allows shareholders to participate directly in the Company's
success," stated O.B. Parrish, Chairman and Chief Executive Officer of The Female
Health Company. "The Company's profitability has generated cash from operations
that exceeds the Company's capital spending requirements, and the Company remains
debt-free. We believe that utilizing some of this excess cash flow to pay cash
dividends is in the best interests of our shareholders. Extending the stock
repurchase program provides another alternative for allocation of excess cash
resources."
Any future quarterly dividends and the record date for any such dividends must be
approved each quarter by the Company's Board of Directors and announced by the
Company. Payment of future dividends is at the discretion of the Board of
Directors, which will base its decisions on operating cash flows, capital
spending and other cash requirements, and other factors that may affect whether
or not it believes the continued payment of dividends is in the best interests of
the Company and its shareholders.
About The Female Health Company
The Female Health Company, based in Chicago, Illinois, manufactures and markets
the FC2 Female Condom (FC2), which is available in the U.S. and approximately 138
other countries globally. The Company owns certain worldwide rights to the FC2
Female Condom, including patents that have been issued by the U.S., the European
Union, Canada, Australia, South Africa, Japan, The People's Republic of China,
Spain, Mexico, Greece, Turkey and the African Regional Intellectual Property
Organization (ARIPO), which includes Botswana, The Gambia, Ghana, Kenya, Lesotho,
Malawi, Mozambique, Namibia, Sierra Leone, Somalia, Sudan, Swaziland, Uganda,
United Republic of Tanzania, Zambia and Zimbabwe. FC2 patent applications are
pending in various countries. The FC2 Female Condom is the only available
FDA-approved product controlled by a woman that offers dual protection against
sexually transmitted diseases, including HIV/AIDS, and unintended pregnancy. The
World Health Organization (WHO) has cleared FC2 for purchase by U.N. agencies.
"Safe Harbor" statement under the Private Securities Litigation Reform Act of
1995:
The statements in this release which are not historical fact are
"forward--looking statements" as that term is defined in the Private Securities
Litigation Reform Act of 1995. Forward--looking statements in this release relate
to the continuation of cash dividends in future periods and the timing and amount
of repurchases under the stock repurchase program. These statements are based
upon the Company's current plans and strategies, and reflect the Company's
current assessment of the risks and uncertainties related to its business, and
are made as of the date of this release. The Company assumes no obligation to
update any forward--looking statements contained in this release as a result of
new information or future events, developments or circumstances. Such
forward--looking statements are inherently subject to known and unknown risks and
uncertainties. The Company's actual results and future developments could differ
materially from the results or developments expressed in, or implied by, these
forward--looking statements. Factors that may cause actual results to differ
materially from those contemplated by such forward--looking statements include,
but are not limited to, the following: product demand and market acceptance;
competition in the Company's markets and the risk of new competitors and new
competitive product introductions; the Company's reliance on its international
partners in the consumer sector and on the level of spending on the female condom
by country governments, global donors and other public health organizations in
the global public sector; the economic and business environment and the impact of
government pressures; risks involved in doing business on an international level,
including currency risks, regulatory requirements, political risks, export
restrictions and other trade barriers; the Company's production capacity,
efficiency and supply constraints; and other risks detailed in the Company's
press releases, shareholder communications and Securities and Exchange Commission
filings, including the Company's Form 10--K for the fiscal year ended September
30, 2012. Actual events affecting the Company and the impact of such events on
the Company's operations may vary from those currently anticipated.
For more information about the Female Health Company visit the Company's website
at femalehealth.com and femalecondom.org . If you would
like to be added to the Company's e-mail alert list, please send an e-mail to
FHCInvestor@femalehealthcompany.com |
