Avid Bioservices Declares Quarterly Dividend on Its Series E Convertible Preferred Stock
Avid Bioservices (NASDAQ:CDMO, CDMOP) has declared a quarterly cash dividend of $0.65625 per share on its 10.50% Series E Convertible Preferred Stock.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Summary
Avid Bioservices (NASDAQ:CDMO, CDMOP) has declared a quarterly cash dividend of $0.65625 per share on its 10.50% Series E Convertible Preferred Stock. This dividend is payable on January 4, 2021, to shareholders on record by December 14, 2020. The annualized yield is 10.50% based on a liquidation preference of $25.00 per share, accruing from October 1, 2020, through December 31, 2020. Avid is a leading biologics contract development and manufacturing organization dedicated to improving patient lives through high-quality services for biotechnology and pharmaceutical clients.
Positive
- Quarterly cash dividend of $0.65625 per share provides income for shareholders.
- Annualized yield of 10.50% indicates company confidence in financial stability.
Negative
- None.
Details
News Market Reaction – CDMO
The recorded move for CDMO in the trading session of this news was +8.20%.
Data tracked by StockTitan Argus. Session date unavailable.
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TUSTIN, Calif., Dec. 01, 2020 (GLOBE NEWSWIRE) -- Avid Bioservices, Inc. (NASDAQ:CDMO) (NASDAQ:CDMOP), a dedicated biologics contract development and manufacturing organization (CDMO) working to improve patient lives by providing high quality development and manufacturing services to biotechnology and pharmaceutical companies, today announced that its Board of Directors has declared a quarterly cash dividend payment on the Company's
The quarterly dividend on the Series E Preferred Stock is payable on January 4, 2021 to holders of record at the close of business on December 14, 2020.
The quarterly dividend payment on the Series E Preferred Stock will be
About Avid Bioservices, Inc.
Avid Bioservices is a dedicated contract development and manufacturing organization (CDMO) focused on development and CGMP manufacturing of biopharmaceutical drug substances derived from mammalian cell culture. The company provides a comprehensive range of process development, CGMP clinical and commercial manufacturing services for the biotechnology and biopharmaceutical industries. With 27 years of experience producing monoclonal antibodies and recombinant proteins, Avid's services include CGMP clinical and commercial drug substance manufacturing, bulk packaging, release and stability testing and regulatory submissions support. For early-stage programs the company provides a variety of process development activities, including upstream and downstream development and optimization, analytical methods development, testing and characterization. The scope of our services ranges from standalone process development projects to full development and manufacturing programs through commercialization. www.avidbio.com
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