UPDATE: Zimmer Announces 11% Increase in Quarterly Dividend for First Quarter of 2013
Published on Friday, 08 March 2013 17:09 Written by TradersHuddle Staff
This Press Release Corrects the Press Release Issued at 7AM EST on March 8, 2013
WARSAW, Ind., March 8, 2013 /PRNewswire/ -- This press release is being issued to revise Zimmer's previous press release regarding the record date for the Company's first quarter 2013 dividend. Previously, the record date was stated as March 29, 2013. The correct record date is March 28, 2013.
Zimmer Holdings, Inc. (NYSE: ZMH; SIX: ZMH), a global leader in musculoskeletal care, today announced that its Board of Directors has approved the payment of an increased quarterly cash dividend to stockholders for the first quarter of 2013. The new payment represents an increase of 11% over the dividend paid for the first quarter of 2012.
"Zimmer is committed to returning considerable value to our stockholders through sales growth, operational excellence and disciplined capital allocation. We are pleased that successful execution of our operational excellence agenda, coupled with our rigorous financial and operational discipline, has provided us with an opportunity to increase our dividend payment to stockholders for the first quarter of 2013," said David Dvorak, Zimmer President and CEO. "The increase in our dividend also reflects our ongoing confidence in the Company's future and our capacity to generate cash and create value for our stockholders. Throughout 2013, an extensive array of new product launches in our core reconstructive product categories and in new, adjacent categories will strengthen Zimmer's established leadership in musculoskeletal healthcare."
The increased quarterly cash dividend of $0.20 per share will be paid on April 26, 2013, to stockholders of record as of the close of business on March 28, 2013. Future declarations of dividends are subject to approval of the Board of Directors and may be adjusted as business needs or market conditions change.
About the Company
Founded in 1927 and headquartered in Warsaw, Indiana, Zimmer designs, develops, manufactures and markets orthopaedic reconstructive, spinal and trauma devices, dental implants, and related surgical products. Zimmer has operations in more than 25 countries around the world and sells products in more than 100 countries. Zimmer's 2012 sales were approximately $4.5 billion. The Company is supported by the efforts of more than 8,500 employees worldwide.
Zimmer Safe Harbor Statement
This press release contains forward-looking statements within the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 based on current expectations, estimates, forecasts and projections about the orthopaedics industry, management's beliefs and assumptions made by management. Forward-looking statements may be identified by the use of forward-looking terms such as "may," "will," "expects," "believes," "anticipates," "plans," "estimates," "projects," "assumes," "guides," "targets," "forecasts," and "seeks" or the negative of such terms or other variations on such terms or comparable terminology. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that could cause actual outcomes and results to differ materially. For a list and description of such risks and uncertainties, see our periodic reports filed with the U.S. Securities and Exchange Commission. We disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be set forth in our periodic reports. Readers of this document are cautioned not to place undue reliance on these forward-looking statements, since, while we believe the assumptions on which the forward-looking statements are based are reasonable, there can be no assurance that these forward-looking statements will prove to be accurate. This cautionary statement is applicable to all forward-looking statements contained in this document.
SOURCE Zimmer Holdings, Inc.
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