LifeVantage Declares Special Cash Dividend of $0.40 Per Share

SALT LAKE CITY, Aug. 28, 2023 (GLOBE NEWSWIRE) -- LifeVantage Corporation (Nasdaq:LFVN) a leading health and wellness company with products designed to activate optimal health processes, today announced that the Company’s Board of Directors has declared a special one-time cash dividend of $0.40 per share of common stock, which will be paid September 22, 2023 to all stockholders of record at the close of business on September 8, 2023.

“We are pleased to announce this special dividend reflecting our strong financial position and long-standing commitment to driving shareholder value,” said Steve Fife, President and Chief Executive Officer of LifeVantage. “Capital allocation has always been a key priority for LifeVantage and the success of our investments in the LV360 transformation now enable us to provide incremental return for shareholders. Our approach to capital allocation remains balanced, and in addition to this special dividend, we resumed our stock repurchase program in the fourth quarter of fiscal 2023 and continue to pay a quarterly dividend of $0.035 per share. The changes we’ve implemented over the past 24 months have strengthened our platform and created a more dynamic business model, all of which positions us for significant growth and improving profitability in fiscal 2024 and beyond.”

About LifeVantage Corporation

LifeVantage Corporation (Nasdaq: LFVN), the activation company, is a pioneer in nutrigenomics, the study of how nutrition and naturally occurring compounds affect human genes to support good health. The Company engages in the identification, research, development, formulation and sale of advanced nutrigenomic activators, dietary supplements, nootropics, pre- and pro-biotics, weight management, skin and hair care, bath & body, and targeted relief products. The Company’s line of scientifically-validated dietary supplements includes its flagship Protandim family of products, LifeVantage Omega+, ProBio, IC Bright, Daily Wellness, Rise AM, Reset PM, and D3+ dietary supplements, the TrueScience line of skin, hair, bath & body, and targeted relief products. The Company also markets and sells Petandim, its companion pet supplement formulated to combat oxidative stress in dogs, Axio its nootropic energy drink mixes, and PhysIQ, its smart weight management system. LifeVantage was founded in 2003 and is headquartered in Lehi, Utah. For more information, visit www.lifevantage.com.