CHENGDU, China, April 14 /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 announced that its Series A Preferred shareholders approved an annual cash dividend of $0.10 per common share that will be paid quarterly for each quarter of this fiscal year. The initial dividend of $.025 will be paid to common shareholders of record on April 30, 2009, with the actual distribution occurring on or about June 10, 2009. The cash dividend will be paid solely to common stockholders and will not be paid on shares owned by management, advisors or other inside shareholders, all of whom have agreed to waive receipt of the dividend.
Dr. Jiang Guoqing, Tianyin's Chairman and Chief Executive Officer, commented, "We are pleased that our Preferred shareholders have approved the cash dividend payable to common stockholders only. This vote demonstrates the support of our preferred shareholders and commitment of management team to provide returns to our common shareholders first and foremost. The strength of our business coupled with our strong balance sheet puts us in a unique position to be able to provide ongoing current returns to our shareholders through the dividend, while having adequate capital and free cash flow to fund our future growth plans. We are committed to the best interests of our shareholders and will continue to take actions geared at maximizing value throughout the entire organization."
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 TC
|SOURCE Tianyin Pharmaceutical, Co., Inc.|
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