Happiness Biotech Soars 8% on Declaring Cash Dividend to Shareholders
The stock in Happiness Biotech Group Ltd. (Nasdaq: HAPP) rose 8% to $2.45 per American depositary share after announcing that it has declared a cash dividend to shareholders.
The Nanping-based nutraceutical and dietary supplements producer said in a statement today that the cash dividend of $0.015 per ordinary share will be paid out to shareholders on or around Aug. 17.
"Despite the impacts of the COVID-19 in the fourth quarter of our last fiscal year, the Company still maintained good operating conditions and healthy cash flow," Xuezhu Wang, the chief executive officer of Happiness said in a statement today.
He added, "In the future when the pandemic is over and the market condition improves, we expect [to be] giving more returns to our investors."
Happiness recently announced that it had received a Natural Product Number (NPN) license in Canada for its 75% alcohol disposable hand sanitizer The company has also been active in attempting to develop a more affordable Covid-19 testing kit. Last month, it said it obtained the CE Certification for its testing kits—the samples have been shipped to countries including Uganda, Malaysia, and Canada.
Based in Nanping, Happiness operates mainly through Fujian Happiness. Its product portfolio includes 32 types of nutraceutical and dietary supplements.
Shares of Happiness are down 48% year-to-date.