Contact Information: Contacts: Stephen Feldschuh COO 212-330-8515 Diane Meegan Investor Relations 212-330-8512
Daxor Announces Quarterly Dividend
| Source: Daxor Corp.
NEW YORK, NY--(Marketwire - July 14, 2008) - Daxor Corporation (AMEX : DXR ), a medical
instrumentation and biotechnology company, today announced that The Board
of Directors has voted to declare a dividend of $0.25 per quarter. The
dividend will be paid to shareholders of record on July 28, 2008. The
dividend will be paid Wednesday, August 27. The Company last paid a
dividend in 1996. It is the intention of the company to maintain a
quarterly dividend policy if net profits are available to maintain the
dividend.
The Company expects that the distribution will be treated, for Federal
income tax purposes, as a "dividend". However, this determination cannot be
made until shortly after the close of the taxable year at which time the
Company's "earnings and profits" for 2008 will be tabulated. It is
possible, though not expected, depending on the results of operations for
2008, that all or a portion of the distribution will be classified as a
"return of capital". Any portion of the distribution that is properly
classified as a dividend for such Federal income tax purposes will reduce
the corporation's "undistributed personal holding company income" and,
hence, will diminish its potential liability for personal holding company
taxes.
The Company is continuing to build-out its manufacturing facilities in Oak
Ridge, Tennessee which is comprised of two separate 10,000 sq. ft.
buildings.
The Company continues its R&D efforts to work on the development of an
automated total body albumin analyzer. Albumin is a major protein within
the blood that can be used to help support the circulation in patients with
acute blood loss. Up to the present time there has been no available
instrument to measure the total amount of this important protein within the
body which has resulted in significant under utilization of albumin
administration in situations where it could help prevent collapsed
circulation.
In addition, there are ongoing studies on the utilization of the BVA-100
Blood Volume Analyzer in Critical Care Medicine which are nearing
completion and will be ready for submission for publication in peer
reviewed medical journals.
For more information regarding Daxor Corporation's Blood Volume Analyzer
BVA-100, visit Daxor's website www.Daxor.com, or contact Stephen Feldschuh
(COO) at 212-330-8515, stephen@daxor.com or Diane Meegan (Investor
Relations) at 212-330-8512, dmeegan@daxor.com.