Questcor Ups Quarterly Divy by 20%

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  • on October 10th, 2013

 

Questcor ($QCOR), maker of  Acthar Gel used to treat inflammatory and auto-immune disorders, hiked its quarterly dividend by $0.05 this morning from $0.25 to $0.30 per share. In the news release this morning CEO Don Bailey had this to say:

“Our second dividend increase this year reflects our strong financial performance to date, driven by increasing usage of Acthar among physicians to treat patients with serious, difficult to treat medical conditions. Our business is generating a growing amount of cash flow, as evidenced by Questcor’s $278 million in cash and investments at October 4, 2013. Our cash position includes $75 million in restricted cash, unchanged from the second quarter 2013. We remain committed to using our strong cash flow to invest in our business, including significant investments in R&D, while returning cash to shareholders. To date we have maintained a payout ratio—dividends paid per share divided by earnings per share—of approximately 20%.”

 

Sounds good to me.

 

 


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