JONES MEDICAL INCREASES QUARTERLY DIVIDEND 33 PERCENT
JONES MEDICAL INCREASES QUARTERLY DIVIDEND 33 PERCENT ST. LOUIS, May 12 /PRNewswire/ -- Jones Medical Industries, Inc.
(NASDAQ: JMED) today announced at the company's annual meeting of shareholders that sales for April and early May 1992 continue on a strong upward trend, comparable to recently announced 1992 first quarter results.
Dennis Jones, chairman and CEO told shareholders that "as a result of strong early 1992 sales and earnings, JMED's board of directors has approved a 33 percent increase in the company's next quarterly dividend to 2 cents per share." The next dividend payment will be to shareholders of record on June 19th, payable July 2, 1992. Jones also announced the recent signing of an agreement with the East Asiatic Company LTD. (EAC) for the exclusive distribution of JMED's American Vitamin Products throughout Japan. EAC markets to some 17,000 retail pharmacies throughout Japan and expects to purchase $500,000 from JMED over the next 12 month period. Finally Jones indicated that JMED's directors have approved the previously announced Letter of Intent to purchase 16.7 percent of the common stock of Abana Pharmaceuticals, Inc. of Birmingham, Ala. Abana Pharmaceuticals is a pharmaceutical marketer of specialty products to physicians and hospitals throughout Alabama, Georgia, Mississippi and Tennessee. JMED's capital infusion will assist Abana in aggressively expanding their sales organization from its present 10, to 65 sales representatives by the end of 1993. Jones Medical Industries, Inc. is a young, aggressive, growth oriented manufacturer and marketer of pharmaceuticals and nutritional products. With the acquisition of Thrombinar in 1989, and GenTrac, Inc. in 1991 JMED has positioned itself to become a leader in the field of active topical hemostasis
and wound care. JMED's goal is to continue its ten year history of record growth in both sales and earnings through strategic acquisition and focused internal development.
-0- 5/12/92 /CONTACT: Jones Medical investor relations, 314-432-7557/ (JMED) CO: Jones Medical Industries, Inc. ST: Missouri IN: MTC SU: DIV
KD -- NY097 -- 9289 05/12/92 16:10 EDT
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|Date:||May 12, 1992|
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