Velan Inc. Sees Strong Growth, Increases Dividend
Velan Inc. reported a 18.6% sales growth, with sales of $72.2 million and a gross profit margin of $20.6 million. Net income from continuing operations was $17.8 million, with a strong financial position of $59.1 million in cash. The company also announced a significant increase in quarterly dividend payment to CA$0.10 per common share. The increase reflects confidence in future performance and strong cash flow generation.
The company’s backlog increased by 4.1% to $286.1 million, with bookings of $78.2 million in the first quarter of fiscal 2026. Sales saw a significant increase to $72.2 million, up 18.6% compared to the previous year. Gross profit reached $20.6 million, reflecting a higher business volume and improved product mix.
Velan closed the first quarter with cash and cash equivalents of $59.1 million, the highest in five years. The company’s outlook remains positive, with orders amounting to $241.3 million expected to be delivered in the next 12 months. Velan expects to deliver another solid performance in fiscal 2026 despite uncertainties related to tariffs.
The Board of Directors approved a significant increase in the company’s recurring quarterly dividend payment from CA$0.03 to CA$0.10 per common share. This increase reflects Velan’s growing backlog and the Board’s confidence in the company’s future financial performance. The dividend of CA$0.10 per common share is payable on August 29, 2025, to shareholders of record as at August 15, 2025.
Velan Inc., a world-leading manufacturer of industrial valves, reported a strong financial performance in the first quarter of fiscal 2026. With a focus on growth, profitability, and strategic acquisitions, the company is well-positioned to benefit from rising momentum in key markets. Velan’s financial position, with available cash on hand of $59.1 million, supports its growth objectives and maximizes returns to shareholders.
Read more at GlobeNewswire: Velan Inc. Reports Solid First Quarter Results for Fiscal