Salt Lake-based Utah Medical Products Inc.'s board of directors has instituted a regular quarterly cash dividend.

The first dividend of 15 cents per share of common stock is payable July 5 to shareholders of record June 16.

The company said that with current shares outstanding, the dividend will be covered by approximately 36 percent of the company's projected net profits.

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Utah Medical develops, manufactures, assembles and markets disposable and reusable specialty medical devices.

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