Span-America Medical Systems, Inc. (NASDAQ: SPAN) announced today that the Board of Directors declared a regular quarterly dividend of $0.11 per share. The dividend is payable March 5, 2012, to shareholders of record on February 27, 2012. “The upcoming dividend is a 10% increase over the quarterly dividend paid this time last year and illustrates our commitment to returning value to our shareholders,” stated Jim Ferguson, president and chief executive officer of Span-America. “This marks our 89 th consecutive quarter of paying cash dividends. We believe our record of dividend payments highlights our solid earnings and excellent cash flow from operations.” Span-America also announced that shareholders elected three directors for terms expiring in 2015:
Guy R. Guarch
Retired Regional Vice President – C.R. Bard, Inc.
Thomas D. Henrion
President/Owner – Silver Thread Farm, LLC
Linda D. Norman
Senior Associate Dean for Academics – Vanderbilt University School of Nursing
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®, Custom Care®, Span+Aids®, Isch-Dish®, Risk Manager® and Selan® products. We also supply custom foam and packaging products to the consumer and industrial markets. Through our wholly-owned subsidiary Span Medical Products Canada Inc., we manufacture and market the M.C. Healthcare Products brands of Maxxum, Advantage and Rexx bed frames as well as related case goods, tables and seating products for the long-term care market. Span-America’s stock is traded on The NASDAQ Global Market under the symbol “SPAN.” For more information, visit www.spanamerica.com or www.mchealthcare.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.