CONMED Corporation Announces Quarterly Cash Dividend
CONMED Corporation (NASDAQ: CNMD) announced today that its Board of Directors has declared a quarterly cash dividend of $0.15 per share, payable on April 5, 2013 to all shareholders of record as of March 15, 2013. The Board expects that future cash dividends will be paid on a quarterly basis such that the total annual dividend rate based on the quarterly cash dividend will equal $0.60 per share, which is equivalent to a dividend yield of approximately two percent. 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.
CONMED is a medical technology company with an emphasis on surgical devices and equipment for minimally invasive procedures. The Company's products are used by surgeons and physicians in a variety of specialties including orthopedics, general surgery, gynecology, neurosurgery and gastroenterology. Headquartered in Utica, New York, the Company's 3,600 employees distribute its products worldwide from several manufacturing locations. CONMED has a direct selling presence in 16 countries outside the United States and international sales constitute approximately 50% of the Company's total sales.