Investment Memo #1: Utah Medical Products, Inc. (NASDAQ: UTMD)

UTMD, headquartered in Utah, is a profitable medical devices company that makes critically important fetal monitoring accessories, vacuum-assisted delivery systems, and other labor and delivery tools.

Investment Summary:

Strong Balance Sheet with $82mm in cash and no debt

Long history of paying dividend

• 21 consecutive years of regular quarterly cash dividends and dividend growth (2 years negative growth rate, 2022 and 2011)

• Current dividend yield of 1.97% ($1.22) per year.

Consistent track record of generating free cash flow for 30 consecutive years

• Total …