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Investing.com -- Universal Safety Products, Inc. (NYSE:UUU) stock surged 60% Tuesday morning after the company announced a one-time special cash dividend of $1.00 per share of common stock.
The special dividend will be payable on September 25, 2025, to shareholders of record as of September 18, 2025. This significant return of capital follows the company’s successful sale of assets to Feit Electric Company earlier this year.
Harvey B. Grossblatt, the Company’s President and CEO, explained the strategic rationale behind the dividend: "This special dividend marks an important milestone for our stockholders, representing a direct return of value from the successful sale of assets to Feit Electric Company earlier this year. While our original plan envisioned a larger dividend tied to a full dissolution, our stockholders chose a different path, one that positions the Company to grow and prosper."
Due to the size of the dividend representing more than 20% of the company’s stock price, NYSE American has advised that UUU shares will trade with "due bills" from September 18 through September 25, 2025. This means shareholders who sell their stock during this period will also be selling their right to receive the special dividend.
The ex-dividend date is set for September 26, 2025, after which new buyers of the stock will no longer be entitled to the special payment.
Universal Safety Products noted that the dividend allows the company to return capital to shareholders while preserving resources for future growth initiatives, including the introduction of new products and services.
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