MD MEDICAL GROUP TO INTRODUCE INTERIM DIVIDENDS
2 September 2016, Moscow - MD Medical Group Investments Plc ("MD Medical Group", "MDMG" or the "Company" - LSE:MDMG), a leading Russian private healthcare provider, announces that its Board of Directors at a meeting today in Moscow approved changes to the frequency for considering dividend payments.
Going forward, the Company will consider payment of dividends to shareholders twice a year. Decision on payment of interim dividends will be made by the Board of Directors based on MD Medical Group's results for the first six months of the year. Payment of dividends based on the Company's full-year IFRS financial results will be approved by the General Meeting of shareholders.
Mark Kurtser, CEO of MDMG, said:
"We highly appreciate the long-standing support and trust of our investors. In return, we have achieved strong results and aim to share our success with the shareholders, including by increasing investment returns.
"It is natural therefore that today the Board of Directors passed this important resolution. Because we care about our shareholders, we plan to pay dividends twice as often - not only for the full year, but also following the results of the first six months of the year.
"Since our IPO, our results and achievements have proved that MD Medical Group is an efficient world-class company with an attractive investment case. Today's resolution provides further support for this."
For further information please contact:
MD Medical Group Investments Plc
Tel: +7 495 331 4120
Sergii Pershyn: +1 929 855 8188
About MD Medical Group
MD Medical Group operates in the highly attractive Russian private healthcare service market and has a leading position in high-quality women's health and paediatrics. The company manages 30 modern healthcare facilities, including 4 hospitals and 26 outpatient clinics in Moscow, St. Petersburg, Ufa, Perm, Samara and Samara region, Irkutsk, Novosibirsk, Irkutsk, Yaroslavl, Ryazan, Kostroma, Novokuznetsk, Krasnoyarsk, Omsk, and Barnaul.
The Company's shares have been listed on the London Stock Exchange (LSE ticker "MDMG") in the form of Global Depositary Receipts (GDRs) since 12 October 2012.
This press release contains forward looking statements, which are based on the Company's current expectations and assumptions and may involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. The forward looking statements contained in this press release are based on past trends or activities and should not be taken that such trends or activities will continue in the future. It is believed that the expectations reflected in these statements are reasonable, but they may be affected by a number of variables which could cause actual results or trends to differ materially, including, but not limited to: conditions in the market, market position of the Company, earnings, financial position, cash flows, return on capital and operating margins, anticipated investments and economic conditions; the Company's ability to obtain capital/additional finance; a reduction in demand by customers; an increase in competition; an unexpected decline in revenue or profitability; legislative, fiscal and regulatory developments, including, but not limited to, changes in environmental and health and safety regulations; exchange rate fluctuations; retention of senior management; the maintenance of labour relations; fluctuations in the cost of input costs; and operating and financial restrictions as a result of financing arrangements.
No statement in this press release is intended to constitute a profit forecast, nor should any statements be interpreted to mean that earnings or earnings per share will necessarily be greater or lesser than those for the relevant preceding financial periods for the Company. Each forward looking statement relates only as of the date of the particular statement.
This information is provided by RNS