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ConMed to pay Q4 dividend of 20 cents a share in early January

By Journal Staff

Date:

UTICA — ConMed Corp. (NASDAQ: CNMD), a Utica–based surgical-device maker, recently announced that its board of directors has declared a quarterly cash dividend of 20 cents a share for the fourth quarter.

The dividend will be payable on Jan. 7 to all shareholders of record as of Dec. 13.

At the company’s current stock price, the dividend yields about 0.7 percent on an annual basis. 

ConMed says it’s a medical technology company that provides surgical devices and equipment for minimally invasive procedures. The firm’s products are used by surgeons and physicians in specialties including orthopedics, general surgery, gynecology, neurosurgery, and gastroenterology. 

ConMed on Oct. 30 reported adjusted earnings of $18.2 million, or 62 cents a share, in the third quarter, up nearly 38 percent from $13.2 million, or 46 cents, in the same quarter in 2018.

The company cited severance costs in connection with consolidation of certain manufacturing operations for the adjusted earnings. Those severance costs were mainly incurred in 2019, the firm said.