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Nutraceutical International, a Park City-based purveyor of branded nutritional supplements, said its board of directors has declared a first ever, special cash dividend of $1 per share on its common stock.
The dividend will be paid Dec. 28 to stockholders whose names are on Nutraceutical's list of shareholders as of Dec. 21.
Bill Gay, chairman and CEO, said in a statement that the $1 special dividend that will be paid prior to the end of the calendar year provides the company with the opportunity to return some of its capital to shareholders. The total value of the dividend is approximately $9.8 million.
"We have had a strong year, our business fundamentals remain strong. We believe the company is well positioned to move forward aggressively and we are confident in our ability to fund our growth and acquisition plans and continue our stock repurchase program," Gay said.
Nutraceutical is among a growing number of companies that are declaring special end-of-year dividend payments because next year investors will have to pay higher taxes on dividend income unless a compromise is reached on taxes and spending.