CHENGDU, China, July 8 /PRNewswire-Asia-FirstCall/ -- Tianyin Pharmaceutical Co., Inc., (NYSE Amex: TPI), a manufacturer and supplier of modernized traditional Chinese medicine ("TCM") based in Chengdu, China, today declared a quarterly cash dividend to be paid to its common stock shareholders. The dividend of $0.025 will be paid to shareholders of record as of July 31, 2009, with the actual distribution occurring on or about September 10, 2009.
In addition, Tianyin will pay the quarterly dividend on its Series A Preferred Stock in cash to holders of record as of June 30, 2009. As of July 1, 2009, there are 6,826,500 shares of Series A Preferred Stock outstanding, which are convertible into shares of Tianyin's common stock at $1.60 per share and mature in January 2011.
Dr. Jiang Guoqing, Tianyin's Chairman and Chief Executive Officer, commented, "We appreciate the continued support of both our common and preferred shareholders. With a strong balance sheet, positive cash flow and a growing business, we have the resources to prudently manage our capital structure, while providing a current return to new and existing investors."
About Tianyin Pharmaceuticals
Tianyin is a manufacturer and supplier of modernized Traditional Chinese
Medicine ("TCM") in China. It was established in 1994 and acquired by the
current management team in August 2003. It has a comprehensive product
portfolio of 33 modernized TCMs and 5 generic western medicines in the market,
22 of which are listed in the highly selective National Medicine Catalog of
the National Medical Insurance Program. Tianyin owns and operates two GMP
manufacturing facilities and an R&D platform supported by leading Chinese
academic institutions. The Company has a pipeline of 47 pharmaceutical
products pending approval. Tianyin has an ext
|SOURCE Tianyin Pharmaceutical Co., Inc.|
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