NEW YORK - SIGA Technologies, Inc. (NASDAQ: SIGA), a pharmaceutical company specializing in health security countermeasures, declared a special cash dividend of $0.60 per share on its common stock, marking a $0.15 or 33% increase from the previous year's dividend. The dividend is scheduled for payment on April 11, 2024, to stockholders on record as of March 26, 2024.
The company's CEO, Diem Nguyen, attributed the dividend hike to SIGA's solid operational performance and robust cash reserves, expressing confidence in the company's business trajectory. Nguyen emphasized that the increased dividend reflects a strategic approach to creating shareholder value through capital management and prudent investments.
SIGA Technologies focuses on the health security market, which includes biodefense measures against biological, chemical, radiological, and nuclear threats, as well as emerging infectious diseases and health preparedness. The company's flagship product, TPOXX®, is an antiviral medication approved for the treatment of smallpox and has received approval for additional indications in Europe.
In the backdrop of global health security concerns, such as the potential use of smallpox as a bioweapon and recent outbreaks of mpox, SIGA's work in developing and marketing TPOXX® is of particular relevance. The company has also engaged with the U.S. Biomedical Advanced Research and Development Authority (BARDA) for further procurement and development of both oral and intravenous formulations of TPOXX®.
This press release statement contains forward-looking information that reflects the company's current expectations regarding future events and performance. These forward-looking statements are subject to risks, uncertainties, and other factors that could cause actual results to differ materially from those projected.
Investors are reminded that this announcement is based on a press release statement and should consider the company's disclosures on potential risks and uncertainties in their decision-making process.
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