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UPDATE 1-Medtox Scientific sets special dividend, shars up

* Sets special dividend of $1.25/shr * Shares rise 6 pct Nov 12 (Reuters) - Medtox Scientific Inc, a provider of laboratory testing services, declared a special dividend of $1.25 a share to be paid Dec.

1, sending its shares up 6 percent. The company said the dividend will be paid by cash on hand and borrowing from its short-term revolving credit facility. Medtox said the dividend to stockholders of record on November 22, is based on its cash balances and anticipated ability to generate cash flow from operations. The company shares, which have gained 4 percent since it reported third-quarter results in October, were up 7 percent at $12.50 in pre-market trade. They closed at $11.77 on Thursday on Nasdaq. (Reporting by Anand Basu in Bangalore; Editing by Don Sebastian) Keywords: MEDTOX/ (anand.basu@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging:anand.basu.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved.

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