CryoLife announces Q2 2013 dividend increase

CryoLife's board of directors has approved a ten percent increase in its quarterly cash dividend for the second quarter of 2013 to $0.0275 (0.0177 pounds) per share of common stock.

At the new rate, the indicated dividend on an annual basis is $0.11 per share, with payments to be made on June 21st 2013 to all common stockholders of record as of June 14th.

The firm anticipates paying quarterly dividends in March, June, September and December of each year, with the annual total coming to approximately $3 million, based on the number of shares currently outstanding.

Its latest dividend increase comes in light of the recent progress CryoLife has made in executing its strategic growth plan.

Steven Anderson, CryoLife's president and chief executive officer, said: "Based on our continued confidence in the company's financial strength and long-term growth outlook, we are pleased to announce our first increase to the dividend, which has been increased by ten percent."

In April 2013, the company reported its financial results for the first quarter of the year, during which it achieved a record $35.5 million revenue total.