Span-America Medical Systems, Inc. (NASDAQ: SPAN) announced today that the Board of Directors increased the quarterly cash dividend by 10% to $0.11 per share. The dividend is payable June 3, 2011, to shareholders of record on May 18, 2011. “This dividend will mark our 86 th consecutive quarter of paying cash dividends and our fourth dividend increase in the last five fiscal years,” stated Jim Ferguson, president and chief executive officer of Span-America. “The 10% increase in our quarterly cash dividend highlights our strong financial position and excellent cash flow from operations. “Our dividend program continues to be an important part of our ongoing efforts to build long-term shareholder value. We have returned $27.1 million in cash to shareholders, or $9.76 per share, through our quarterly and special dividends since we began paying dividends in 1990,” concluded Mr. Ferguson. About Span-America Medical Systems, Inc. Span-America manufactures and markets a comprehensive selection of pressure management products for the medical market, including Geo-Matt®, PressureGuard®, Geo-Mattress®, Span+Aids®, Isch-Dish®, Risk Manager® and Selan® products. The company also supplies custom foam and packaging products to the consumer and industrial markets. Span-America's stock is traded on The NASDAQ Global Market under the symbol “SPAN.” For more information, visit www.spanamerica.com.
In this series, we look through the most recent Dividend Channel ''DividendRank'' report, and then we cherry pick only those companies that have experienced insider buying within the past six months. The officers and directors of a company tend to have a unique insider's view of the business, and presumably the only reason an insider would choose to take their hard-earned cash and use it to buy stock in the open market, is that they expect to make money — maybe they find the stock very undervalued, or maybe they see exciting progress within the company, or maybe both.