BALTIMORE, Sept. 7,
2023 /PRNewswire/ -- Medifast (NYSE: MED), the
company behind the health and wellness
community, OPTAVIA®, today announced that its Board of
Directors has declared a $1.65
quarterly cash dividend to its stockholders. The quarterly cash
dividend of $1.65 per share is
payable on November 7, 2023, to
stockholders of record as of the close of business on September 19, 2023.
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 the health and wellness company known
for its habit-based and Coach-guided lifestyle solution
OPTAVIA®, which provides people with a simple, yet
comprehensive approach to help them achieve lasting optimal health
and wellbeing. OPTAVIA offers clinically proven plans,
scientifically developed products and a framework for habit
creation reinforced by independent Coaches and Community support.
As a physician-founded company with a 40+ year history, Medifast is
a leader in the U.S. weight management industry. The company
continues to innovate and build upon its scientific and clinical
heritage to deliver on its mission of offering the world Lifelong
Transformation, One Healthy Habit at a Time®. Medifast was
recognized in 2023 by Financial Times as one of The Americas'
Fastest Growing Companies and in 2022 as one of America's Best
Mid-Sized Companies by Forbes. For more information, visit
MedifastInc.com and OPTAVIA.com and follow @Medifast on
Twitter.
MED-F
Forward Looking Statements
Please Note: This release contains "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act
of 1995, Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended.
These forward-looking statements generally can be identified by use
of phrases or terminology such as "intend," "anticipate," "expect"
or other similar words or the negative of such terminology.
Similarly, descriptions of Medifast's objectives, strategies,
plans, goals, outlook or targets contained herein are also
considered forward-looking statements. These statements are based
on the current expectations of the management of Medifast and are
subject to certain events, risks, uncertainties and other factors.
Some of these factors include, among others, risks associated with
Medifast's direct-to-consumer business model; the impact of rapid
growth on Medifast's systems; disruptions in Medifast's supply
chain; Medifast's inability to continue to develop new products;
effectiveness of Medifast's advertising and marketing programs,
including use of social media by independent OPTAVIA
Coaches; Medifast's inability to maintain and grow the network of
independent OPTAVIA Coaches; the departure of one or more
key personnel; Medifast's inability to protect against online
security risks and cyberattacks; to protect its brand and
intellectual property, or to protect against product liability
claims; Medifast's planned growth into domestic and international
markets; adverse publicity associated with Medifast's products;
Medifast's inability to continue declaring dividends; fluctuations
of Medifast's common stock market price; the prolonged effects of
COVID-19 on consumer spending and disruptions to Medifast's
distribution network, supply chains and operations; increases in
competition or litigation; the consequences of other geopolitical
events, including natural disasters, global health crises, acts of
war (including the war in Ukraine), changes in trade policies and
tariffs, climate change, regulatory changes, increases in costs of
raw materials, fuel, or other energy, transportation, or utility
costs and in the costs of labor and employment, labor shortages,
supply chain issues and the resulting impact on market conditions
and consumer sentiment and spending; and Medifast's ability to
prevent or detect a failure of internal control over financial
reporting. Although Medifast believes that the expectations,
statements and assumptions reflected in these forward-looking
statements are reasonable, it cautions readers to always consider
all of the risk factors and any other cautionary statements
carefully in evaluating each forward-looking statement in this
release, as well as those set forth in its Annual Report on Form
10-K for the fiscal year ended December 31,
2022, and other filings filed with the United States
Securities and Exchange Commission, including its quarterly reports
on Form 10-Q and current reports on Form 8-K. All of the
forward-looking statements contained herein speak only as of the
date of this release.
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SOURCE Medifast, Inc.