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Kensey Nash Corporation Adopts Cash Dividend Policy; Declares Initial Quarterly Dividend of $0.25 per Share
Date:1/3/2012

EXTON, Pa., Jan. 3, 2012 /PRNewswire/ -- The board of directors of Kensey Nash Corporation (Nasdaq: KNSY) announced today that the board has declared a cash dividend of $0.25 per share of the Company's common stock, payable to stockholders of record on January 31, 2012.  The dividend will be paid on February 29, 2012.  This declaration reflects the initial dividend under a new policy whereby the board of directors expects to declare a total annual dividend of $1.00 per share of common stock, to be paid in equal quarterly installments, commencing with the dividend announced today.  Any decision to pay future cash dividends will, however, be made by the board of directors and will depend on the Company's future earnings and financial condition and other relevant factors.

On an annualized basis, the quarterly dividend announced today represents a yield of 5.2% based upon the $19.19 per share closing price of the Company's common stock on the NASDAQ Global Select Market on December 30, 2011.

"The decision to initiate a quarterly cash dividend to our stockholders at this time reflects the confidence of our board of directors in our business model, financial strength and future prospects," commented Joe Kaufmann, President and CEO of the Company.  He added, "We are committed to our research and development programs and continued pursuit of complementary acquisitions and believe that we can meet our goals as a growth-oriented company and also return cash to our stockholders." Mr. Kaufmann further remarked, "Although we are optimistic about the ultimate outcome of our dispute with St. Jude Medical, we believe we can accomplish our objectives and implement this dividend policy regardless of the resolution of those matters." Mr. Kaufmann concluded, "We expect that this new dividend policy will, in the near term, replace stock repurchases a
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