Medifast, Inc. (MED) will raise its quarterly dividend by 25.7 percent to $1.42 per share in 2021. This comes after a dividend hike of 50.7 percent to $1.13 per share in 2019. The US manufacturer and distributor of healthy living products and programs did not announce a dividend hike in 2020 but based on (dividends paid in) calendar years the dividend is now raised six consecutive years.
The next dividend is payable on May 6, 2021 to stockholders of record as of the close of business on March 30, 2021. A new annual dividend rate of $5.68 per share yields 2.5% at a stock price of $217.95.
In the press release announcing this new dividend hike Medifast mentions that it expects to maintain a program of paying dividends on a quarterly basis. The company will now pay shareholders an estimated $67 million in dividends annually.
Medifast is a manufacturer and distributor of healthy living products and programs. The company produces, distributes and sells weight loss, weight management, and healthy living products, and other consumable health and nutritional products. Its product lines include weight loss, weight management, and healthy living meal replacements, snacks, hydration products, and vitamins. Medifast is known for one of the fastest-growing health and wellness communities, OPTAVIA, which offers scientifically developed products, clinically proven plans and the support of coaches and a community to help clients achieve lifelong transformation, One Healthy Habit at a Time. Medifast has paid dividend every year since 2015.