PITTSBURGH, Oct. 19 /PRNewswire-FirstCall/ -- Mylan Inc. (Nasdaq: MYL) today announced that in accordance with its 2.139 million preferred stock issuance, the company has declared its quarterly dividend of $16.25 per share (based on the annual dividend rate of 6.5% and a liquidation preference of $1,000.00 per share) payable on Nov. 15, 2010, to holders of preferred stock of record as of Nov. 1, 2010. Nov. 15, is also the date upon which all shares of the preferred issuance will mandatorily convert to common stock.
Mylan Inc. ranks among the leading generic and specialty pharmaceutical companies in the world and provides products to customers in more than 140 countries and territories. The company maintains one of the industry's broadest and highest quality product portfolios supported by a robust product pipeline; operates one of the world's largest active pharmaceutical ingredient manufacturers; and runs a specialty business focused on respiratory, allergy and psychiatric therapies. For more information, please visit www.mylan.com.