DOYLESTOWN, PA, May 07, 2018 (GLOBE NEWSWIRE) -- ProPhase Labs, Inc. (NASDAQ: PRPH, www.ProPhaseLabs.com), a
vertically integrated and diversified branding, marketing and technology company with deep experience in over-the-counter dietary
supplements and remedies (“ProPhase” or “Company”), announced today that its Board of Directors has declared a special cash
dividend in the amount of $1.00 per share on its common stock, payable on June 5, 2018 to stockholders of record as of May 21,
2018.
“We are pleased to return to our stockholders a common dividend of $1.00 per share, which represents 34.6% of
its closing price of $2.89 per share as of May 7, 2018. This dividend provides an immediate benefit to our stockholders,
while allowing us to remain well positioned for future growth with ample liquidity for strategic opportunities that may arise,”
said Ted Karkus, Chairman and Chief Executive Officer of ProPhase.
Mr. Karkus continued, “I would like to personally thank our stockholders for their unwavering support and
loyalty.”
In connection with the special cash dividend, the Board of Directors and the Compensation Committee of the Board
of Directors have each approved a proportionate and equitable adjustment to the stock option granted to Mr. Karkus on February 23,
2018, pursuant to and as provided for under the 2018 Stock Incentive Plan, subject to the vesting requirements of the stock
option. The adjustment will become effective as of June 5, 2018, the date the special cash dividend is to be paid.
About ProPhase Labs
ProPhase is a vertically integrated manufacturer, marketer and distributor of a diversified range of
over-the-counter (“OTC”) dietary supplements. We are engaged in the research and development of additional OTC dietary supplements,
including Legendz XL®, which are marketed under our TK Supplements® brand. The Company is also developing
ProPhase Digital Media as a service that leverages and applies technology to the direct-to-consumer marketing of consumer products.
With our enhanced liquidity following the sale of our Cold-EEZE® brand, we are also actively exploring additional
opportunities outside of the consumer products industry. For more information visit us at www.ProPhaseLabs.com.
Forward-Looking Statements
All statements contained in this press release, other than statements of historical fact, are forward-looking
statements. These statements speak only as of the date of this press release and are based on our current plans and expectations
and involve risks and uncertainties that could cause actual future events or results to be different from those described in or
implied by such forward-looking statements, including risks and uncertainties relating to the timing and payment of the special
cash dividend. Further information about these matters can be found in our Securities and Exchange Commission filings. Except
as required by applicable law or regulation, we do not undertake any obligation to update our forward-looking statements to reflect
future events or circumstances.
Investor Contact
Ted Karkus, Chairman and CEO
ProPhase Labs, Inc.
(267) 880-1111
