iRadimed declares special dividend of 48c, initiates quarterly dividend

iRadimed announced its board approved a special cash dividend of 48c per share and the initiation of a regular quarterly dividend on the company’s outstanding common stock. The regular quarterly dividend is 15c per share. The special cash dividend and the quarterly dividend are payable on January 12, 2024, to shareholders of record at the close of business on December 22. It said, “The Company’s continued strong performance has also led to its commitment to significantly expand its production capacity by buying land and building an assembly, R&D, and office facility to replace its current leasehold. The total resource commitment for this expansion is approximately $20M, with approximately $7M expended to date on this project for the land and initial construction expenses. The Company is currently evaluating whether to use available cash for the remainder of this expansion or possibly seek financing for the construction and permanent funding for the facility.”