AMAC Declares First Ever- Cash Dividend of $0.10 per Common Share
December 16 2009 - 11:12AM
Business Wire
American Medical Alert Corp. (NASDAQ: AMAC) a healthcare
communications solutions provider, today announced that its Board
of Directors has approved the payment of a special cash dividend of
$0.10 (ten cents) per common share. The dividend will be paid on or
about January 15, 2010 to shareholders of record as of the close of
business on December 28, 2009.
As of November 30, 2009, there were approximately 9,524,004
shares outstanding.
Jack Rhian, AMAC’s President and CEO stated, “Today’s
announcement of our first ever dividend, is confirmation of the
successful execution of management’s business strategy. AMAC has
transitioned from a single product PERS company, into a dynamic,
multifaceted patient monitoring and healthcare process augmentation
provider. Over the period 2007-2009 (based on our projected 2009
results) our net income will have grown over 85% and our available
cash will have increased by over $4,500,000. The anticipated
continued generation of earnings and cash flow should give us the
flexibility to consider a variety of alternatives such as future
dividends, acquisitions and other growth opportunities that may
present themselves to the Company in the future. AMAC has in place
the infrastructure, systems, and personnel that can drive new
revenue growth and convert that growth into even greater earnings
and cash flow; which should provide for enhanced shareholder value
going forward. Our management team, as well as our Board of
Directors, will continue to focus on ways to facilitate the
methodical and profitable growth of our company.”
About American Medical Alert Corp.
AMAC is a healthcare communications company dedicated to the
provision of support services to the healthcare community. AMAC’s
product and service portfolio includes Personal Emergency Response
Systems (PERS) and emergency response monitoring, electronic
medication reminder devices, disease management monitoring
appliances and healthcare communication solutions services. AMAC
operates eight US based, communication centers under local trade
names: HLINK OnCall, North Shore TAS, Live Message America, ACT
Teleservice, MD OnCall, Capitol Medical Bureau, American
MediConnect, and Phone Screen to support the delivery of high
quality, healthcare communications.
Forward Looking Statements
This press release contains forward-looking statements that
involve a number of risks and uncertainties. Forward-looking
statements may be identified by the use of forward-looking
terminology such as “may,” “will,” “expect,” “believe,” “estimate,”
“anticipate,” “continue,” or similar terms, variations of those
terms or the negative of those terms. Important factors that could
cause actual results to differ materially from those indicated by
such forward-looking statements are set forth in the Company’s
filings with the Securities and Exchange Commission (SEC),
including the Company’s Annual Report on Form 10-K, the Company’s
Quarterly Reports on Forms 10-Q, and other filings and releases.
These include uncertainties relating to government regulation,
technological changes and product liability risks. While management
believes that its current estimates are reasonable, revenue
projections for newly introduced products are inherently less
reliable due to a lack of sales history.
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