BALTIMORE, Dec. 3, 2019 /PRNewswire/ -- Medifast, Inc.
(NYSE: MED), a leading manufacturer and distributor of clinically
proven programs and healthy living products, announced today that
its Board of Directors has declared a $1.13 quarterly cash dividend to its
stockholders, reflecting a 38 cent or
51 percent increase over the previous quarter's dividend. The
quarterly cash dividend of $1.13 per
share is payable on February 6, 2020
to stockholders of record as of the close of business on
December 27, 2019.
"Today's announcement reflects the Board's confidence in
Medifast's long-term growth prospects and our commitment to
delivering high returns to our stockholders," said Dan Chard, Medifast's Chief Executive Officer.
"This dividend increase is reflective of the consistent underlying
strength of our business, which continues to deliver double-digit
revenue growth in the health and wellness category."
Medifast expects to maintain a program of paying dividends on a
quarterly basis. However, the declaration of dividends in the
future is subject to the discretion of the company's Board of
Directors, who will evaluate the company's dividend program from
time to time based on factors that it deems relevant.
About Medifast®:
Medifast
(NYSE: MED) is a leading manufacturer and distributor of clinically
proven, healthy living products and programs. The brand has been
recommended by more than 20,000 doctors since its founding. Its
integrated coach model leverages nearly 40 years of experience from
medical, franchise, e-commerce, and direct selling channels.
Medifast and its community of independent OPTAVIA Coaches
embrace the future of wellness with a shared vision to offer the
world lifelong transformation, one healthy habit at a time®.
OPTAVIA® is represented by a community of OPTAVIA
Coaches who teach Clients healthy habits, while offering support
and guidance on their transformation journey. In 2018, Medifast
announced it will expand into the Asia-Pacific markets of Hong Kong and Singapore in 2019 with its integrated coach
model. Medifast is traded on the New York Stock Exchange and was
named to Forbes' 100 Most Trustworthy Companies in America List in 2016 and 2017. For more
information, visit www.MedifastInc.com or www.OPTAVIA.com.
Forward Looking Statements
This release contains
"forward-looking" statements within the meaning of Section 27A of
the Securities Act of 1933, as amended, Section 21E of the
Securities Exchange Act of 1934, as amended, and the Private
Securities Litigation Reform Act of 1995. These
"forward-looking" statements are based on present circumstances and
on Medifast's predictions with respect to events that have not
occurred, that may not occur, or that may occur with different
consequences and timing than those now assumed or anticipated. Such
forward-looking statements, including the expected future payment
of dividends and any statement of the plans and objectives of
management for future operations and forecasts of future growth and
value, are not guarantees of future performance or results and
involve risks and uncertainties that could cause actual events or
results to differ materially from the events or results described
in the forward-looking statements. Such forward-looking
statements are made only as of the date of this release and
Medifast assumes no obligation to update forward-looking statements
to reflect subsequent events or circumstances. Readers should
not place undue reliance on these forward-looking statements.
MED-F
View original content to download
multimedia:http://www.prnewswire.com/news-releases/medifast-inc-announces-51-percent-increase-in-quarterly-dividend-300968713.html
SOURCE Medifast, Inc.