Printer Friendly

SPI PHARMACEUTICALS INC. INCREASES ANNUAL DIVIDEND 6 PERCENT FOR 1992; ADOPTS DIVIDEND REINVESTMENT PROGRAM AND DECLARES FIRST QUARTER DIVIDEND

SPI PHARMACEUTICALS INC. INCREASES ANNUAL DIVIDEND 6 PERCENT FOR 1992; ADOPTS DIVIDEND REINVESTMENT PROGRAM AND DECLARES FIRST QUARTER DIVIDEND
 COSTA MESA, Calif., March 30 /PRNewswire/ -- SPI Pharmaceuticals Inc. (AMEX: SPI) announced today that because of an increase in net income, it is increasing its annual dividend for 1992 to $1.06 per share. Dividends will be payable quarterly as declared by the board of directors.
 The company also announced the adoption by the board of directors of a Dividend Reinvestment Plan. Under the terms of the plan, stockholders will have the option to receive cash or common stock of the company. Shareholders who choose stock will receive a premium of 3 percent additional shares.
 The plan is intended to encourage the company's stockholders to realize and share in SPI's continued long-term growth prospects.
 The board declared its first quarter dividend of 26 1/2 cents payable June 10, 1992, to stockholders of record on April 10, 1992. The company plans to include this first quarter dividend in the new reinvestment program, which it said it would submit to the Securities and Exchange Commission (SEC) for final review and approval. If, for any reason, the plan was not approved by the SEC, the first quarter dividend would be paid totally in cash.
 SPI earned pretax income of $40.9 million and after-tax income of $30.1 million or $1.73 a share on sales of $364 million in 1991.
 SPI Pharmaceuticals manufactures, markets and distributes 600 prescription and non-prescription pharmaceuticals in more than 60 countries, including the United States, Western and Eastern Europe, Canada, Mexico and the Far East. Its common stock is listed on the American Stock Exchange under the symbol SPI.
 -0- 3/30/92
 /CONTACT: Paul Knopick of SPI Pharmaceuticals, 714-545-0100, ext. 2465/
 (SPI) CO: SPI Pharmaceuticals Inc. ST: California IN: MTC SU: DIV


EH-KJ -- LA006 -- 2725 03/30/92 09:03 EST
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Mar 30, 1992
Words:315
Previous Article:COMMUNITY PSYCHIATRIC CENTERS ANNOUNCES FIRST QUARTER EARNINGS AND SETTLEMENT WITH ONTARIO (CANADA) HEALTH INSURANCE PLAN
Next Article:NEWS 12 LONG ISLAND/HOFSTRA POLL INDICATES LONG ISLAND DISILLUSIONED WITH PRESIDENTIAL CANDIDATES
Topics:


Related Articles
SPI PHARMACEUTICALS DECLARES 25 CENTS-A-SHARE COMMON STOCK DIVIDEND
SPI PHARMACEUTICALS, INC. DECLARES SECOND QUARTER DIVIDEND
SPI PHARMACEUTICALS INC. DECLARES THIRD QUARTER DIVIDEND
/C O R R E C T I O N - SPI PHARMACEUTICALS/
SPI PHARMACEUTICALS DECLARES FOURTH QUARTER STOCK DIVIDEND EQUIVALENT TO TWENTY CENTS A SHARE
SPI PHARMACEUTICALS DECLARES FOURTH QUARTER STOCK DIVIDEND EQUIVALENT TO 20 CENTS A SHARE
SPI PHARMACEUTICALS INCREASES FIRST QUARTER DIVIDEND
SPI PHARMACEUTICALS ANNOUNCES SECOND QUARTER DIVIDEND
SPI PHARMACEUTICALS ANNOUNCES THIRD QUARTER DIVIDEND
SPI ANNOUNCES SECOND QUARTER DIVIDEND

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters