Universal Safety Declares $1 Special Dividend After Feit Electric Asset Sale, Stock to Trade With Due Bills

Universal Safety Products, Inc. (NYSE:UUU) (the "Company") today announced that its Board of Directors has declared a one-time special cash dividend of $1.00 per share of the Company's outstanding common stock. The record date for this dividend is September 18, 2025, and the payment date is September 25, 2025.

Harvey B. Grossblatt, the Company's President and CEO commented: "This special dividend marks an important milestone for our stockholders, representing a direct return of value from the successful sale of assets to Feit Electric Company earlier this year. While our original plan envisioned a larger dividend tied to a full dissolution, our stockholders chose a different path, one that positions the Company to grow and prosper. By returning meaningful capital today while preserving resources for the future, we are aligning our actions with both immediate value creation and long-term opportunity. I am truly excited about what lies ahead as we plan to introduce new products and services that we believe can unlock even greater stockholder value."

Because the payment of the special dividend represents more than 20% of the price of the Company's common stock, NYSE American has advised the Company that its common stock will trade with "due bills" representing an assignment of the right to receive the special dividend from the record date of September 18, 2025 through the closing of trading on NYSE American on September 25, 2025, which is the payment date and the last day of trading before the September 26, 2025 ex-dividend date (this period of time representing the "Dividend Right Period").

Shareholders who sell their common stock during the Dividend Right Period (September 18, 2025 through September 25, 2025) will be selling their right to the special dividend, and such shareholders will not be entitled to receive the special dividend on September 25, 2025. Due bills obligate a seller of common stock to deliver the special dividend payable on such common stock to the buyer (the "Dividend Right").

The special dividend record date of September 18, 2025 will be used as the date for establishing the due bill tracking of the Dividend Right to the holder of common stock. Due bill obligations are customarily settled between the brokers representing the buyers and the sellers of shares. The Company has no obligation for either the amount of the due bill or the processing of the due bill. Buyers and sellers of the Company's common stock should consult their brokers before trading to be sure they understand the effect of NYSE American's due bill procedures.