PetMed Express, Inc. Makes Decision to Suspend the Quarterly Dividend Effective the Quarter Ended September 30, 2023
October 30, 2023 at 04:01 pm EDT
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The Board of Directors and management of PetMed Express, Inc. have made a decision to suspend the quarterly dividend effective the quarter ended September 30, 2023. This will allow the Company to invest directly in the business with a focus on organic and inorganic growth initiatives. The declaration and payment of future dividends, if any, is discretionary and will be subject to the determination by the Board of Directors.
PetMed Express, Inc., doing business as PetMeds, is a direct-to-consumer pet pharmacy. The Company is an online provider of prescription and non-prescription medications, food, supplements, and supplies and has veterinary and pet insurance service partnerships for dogs, cats, and horses. It markets and sells directly to consumers through their Websites, toll-free numbers, and employer benefit partnerships. Its product line contains over 15,000 SKUs of pet medications, health products, foods, and supplies. The Company offers various pet supplies, including beds, crates, stairs and other pet supplies. Its products include Prescription Medications (Rx), Non-Prescription Medications (OTC) and supplies, Pet Foods, Private Label and Holistic Wellness Services. Rx includes heartworm and flea and ticks preventatives, arthritis, dermatitis, thyroid, diabetes, pain medications, heart/blood pressure, and other specialty medications, as well as generic substitutes.