MercadoLibre Inc. Announces New Dividend Policy to Maximize Future Growth Opportunities
March 17 2017 - 4:01PM
MercadoLibre Inc. (the “Company”, or “we”) today announced that its
Board of Directors approved on March 2, 2017 a change to its
dividend policy for, providing for a fixed quarterly dividend
payment in 2017 of $0.15 per share ($0.60 per share annually),
subject to declaration by the Board. The Company believes a fixed
dividend policy will allow it to return value to investors by
allocating additional capital to key initiatives intended to
generate important incremental scale efficiencies for the long-term
in businesses driving current growth, including logistics, Fintech
and retail.
The Company is increasingly confident in its financial and
capital allocation strategies, including the long-term return
potential of its investments, and its key performance indicators
continue to show positive results. We believe these business lines
present significant market opportunities that are highly
synergistic with the rest of the Company’s services.
The new dividend policy will take effect following the payment
of the $0.15 per share dividend declared by the Board of Directors
of the Company payable on April 17, 2017 to shareholders of record
as of the close of business on March 31, 2017. The first quarterly
payment is expected to be paid on July 17, 2017 to shareholders of
record as of the close of business on June 30, 2017.
About MercadoLibre
Founded in 1999, MercadoLibre, Inc. is Latin America's leading
e-commerce technology company. Through its primary platforms,
MercadoLibre.com and MercadoPago.com, it provides solutions to
individuals and companies buying, selling, advertising, and paying
for goods and services online.
MercadoLibre.com serves millions of users and creates a market
for a wide variety of goods and services in an easy, safe and
efficient way. The site is among the top 50 in the world in terms
of page views and is the leading retail platform in unique visitors
in the major countries in which it operates according to metrics
provided by comScore Networks. The Company has been listed on
NASDAQ (Nasdaq:MELI) since its initial public offering in 2007.
For more information about the Company
visit: http://investor.mercadolibre.com
The MercadoLibre, Inc. logo is available
at http://www.globenewswire.com/newsroom/prs/?pkgid=4193
Forward-Looking Statements
Certain statements in this news release are forward-looking
statements within the meaning of the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995. These statements
are based on currently available information and our current
assumptions, expectations and projections about future events.
While we believe that our assumptions, expectations and projections
are reasonable in view of the currently available information, you
are cautioned not to place undue reliance on our forward-looking
statements. The words “anticipate,” “believe,” “expect,” “intend,”
“plan,” “estimate,” “target,” “project,” “should,” “may,” “could,”
“will” and similar words and expressions are intended to identify
forward-looking statements. Forward-looking statements speak only
as of the date they are made, and we do not undertake to update
these forward-looking statements except as may be required by law.
You are advised, however, to review any further disclosures we make
on related subjects in our periodic filings with the SEC.
CONTACT:
MercadoLibre, Inc.
Investor Relations
investor@mercadolibre.com
http://investor.mercadolibre.com
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