BALTIMORE, March 16,
2023 /PRNewswire/ -- Medifast (NYSE: MED), the global
company behind one of the fastest-growing health and wellness
communities, OPTAVIA®, announced today 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 May 9, 2023 to
stockholders of record as of the close of business on March 28, 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 global company behind one of the
fastest-growing health and wellness communities, OPTAVIA®,
which offers scientifically developed products, clinically proven
plans and the support of independent OPTAVIA Coaches and a
Community to help Customers achieve Lifelong Transformation, One
Healthy Habit at a Time®. As the publicly traded market leader by
revenue in the U.S. $7 billion weight
management industry, the company has impacted more than 2 million
lives through its Community of OPTAVIA Coaches, who teach
Customers how to develop holistic healthy habits through the
proprietary Habits of Health® Transformational System. Medifast was
recognized in 2022 as one of America's Best Mid-Sized
Companies by Forbes, in 2020 and 2021 as one of FORTUNE's 100
Fastest-Growing Companies and was named to Forbes' 100 Most
Trustworthy Companies in America list in 2017. For more
information, visit MedifastInc.com or 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 our 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.
All of the forward-looking statements contained herein speak only
as of the date of this release.
Investor Contact:
Medifast, Inc.
Steven Zenker
InvestorRelations@medifastinc.com
443-379-5256
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SOURCE Medifast, Inc.