07:04 AM EST, 11/20/2025 (MT Newswires) -- Covalon Technologies ( CVALF ) , which fell 2% and nearer to 52 week lows yesterday, overnight Wednesday said it paid its first dividend of $0.15 per share on Nov. 18.

The special cash dividend reflects Covalon's ( CVALF ) "strong financial performance and continued success" in accelerating the adoption of its medical technologies, a statement said.

Chief executive Brent Ashton noted that, over the last three years, revenue jumped 82% to $33 million, gross margins rose 41% to 56% and adjusted EBITDA swung from a negative $7.8 million to a positive $4.1 million.

"Numerous advancements including our recent VALGuard Line Guard clinical evidence study and our new CovaClear indication are fueling accelerated growth which gives the company a solid basis for continued strength of financial performance," Ashton added.