Cumberland Pharmaceuticals Inc. (Nasdaq: CPIX) has declared a special cash dividend of $1.50 per share of common stock, payable July 31, 2026, to shareholders of record as of July 10, 2026.

The dividend follows the company's previously announced transaction with Apotex Health, in which Cumberland received $100 million in cash for its line of FDA-approved products. Cumberland also expects to receive up to $11 million in additional payments tied to product inventory and transitional support services.

According to the company, analysis by its tax advisors and updated financial projections indicated greater net cash from the transaction than originally expected, prompting the board to evaluate options for returning capital to shareholders.

In addition to the special dividend, the board authorized an open-market share repurchase program of up to $5 million in Cumberland shares. Several board members plan to establish new share purchase plans to increase their holdings.

"In keeping with our ongoing commitment to deliver value to our shareholders, we are issuing a special dividend following the strategic transaction, which treats all shareholders equally," said A.J. Kazimi, Cumberland's CEO.

Following the Apotex transaction, Cumberland said it will focus on developing ifetroban, a thromboxane antagonist being studied in Phase II clinical programs targeting Duchenne Muscular Dystrophy cardiomyopathy, Systemic Sclerosis, Idiopathic Pulmonary Fibrosis, and cancer metastasis. The company also retains majority ownership in Cumberland Emerging Technologies Inc.