ConMed to pay Q2 dividend of 20 cents a share in early July

ConMed Corp. (NYSE: CNMD), a surgical-device maker founded in the Utica area, recently announced that its board of directors has declared a quarterly cash dividend of 20 cents a share for the second quarter.

The dividend is payable on July 6 to all shareholders of record as of June 15.

ConMed manufactures surgical devices and equipment for minimally invasive procedures. The firm’s products are used by surgeons and physicians in specialties that include orthopedics, general surgery, gynecology, neurosurgery, thoracic surgery, and gastroenterology.

ConMed in late April reported sales of nearly $233 million in the first quarter, up almost 9 percent from the year-ago quarter. Based on the first-quarter results, the company increased its guidance for the full year of 2021 and now expects to generate revenue between $1.0 billion and $1.03 billion, an improvement from its prior guidance of between $975 million and $1.02 billion. 

ConMed now expects to produce net earnings per share in the range of $3.05 to $3.20 for 2021, an improvement from its prior range of $2.85 to $3.05.

ConMed, which was headquartered in the Utica area for 50-plus years, on Jan. 1 designated Largo, Florida (the Tampa Bay area) as its corporate headquarters Its Utica–area facility is located at 525 French Road in New Hartford, where the company continues to maintain its manufacturing, finance, human resources, legal, and other corporate functions. The Florida office houses its CEO and other key executives.