WALTHAM, Mass., May 25 /PRNewswire-FirstCall/ -- Inverness Medical Innovations, Inc. (NYSE: IMA), a global leader in enabling individuals to take charge of their health at home through the merger of rapid diagnostics and health management, has declared a dividend of $3.00 per share on its Series B Convertible Perpetual Preferred Stock (NYSE: IMA-PB). The dividend will be paid in shares of Series B stock in an amount per share equal to the quotient of (a) $3.00 divided by (b) 97% of the average of the volume-weighted average price per share of the Series B stock on the New York Stock Exchange for each of the five consecutive trading days ending on the second trading day immediately prior to the record date of the dividend. Inverness will pay cash in lieu of any fractional shares resulting from the dividend. The dividend is payable on July 15, 2010 to holders of record of Series B stock at the close of business on July 1, 2010.
Such payment will cover the amount of all dividends accrued from April 1, 2010 through June 30, 2010.
For more information about Inverness Medical Innovations, please visit our website at http://www.invernessmedical.com .
By developing new capabilities in near-patient diagnosis, monitoring and health management, Inverness Medical Innovations enables individuals to take charge of improving their health and quality of life. Inverness' global leading products and services, as well as its new product development efforts, focus on infectious disease, cardiology, oncology, drugs of abuse and women's health. Inverness is headquartered in Waltham, Massachusetts.SOURCE Inverness Medical Innovations, Inc.