MDC Partners MDCA Inc. ("MDC Partners" or the
"Company") today announced that its Board of Directors has approved a
three-for-two split of its outstanding Class A and Class B shares in the
form of a stock dividend. Subject to regulatory approval, the additional
shares will be distributed to shareholders of record at the close of
business on November 22, 2013. Shareholders who have stock certificates of
MDC Partners should retain them. The transfer agent will distribute
confirmation of the additional shares on November 27, 2013. Trading is
expected to begin on a post-split basis on the Toronto Stock Exchange on
November 20, 2013 and on the NASDAQ on November 29, 2013.
In addition, the MDC Partners Board of Directors has declared a cash
dividend of $0.24 per share on all of its outstanding Class A shares and
Class B shares. The quarterly dividend will be payable on or about November
22, 2013, to shareholders of record at the close of business on November 7,
2013. Following MDC's planned three-for-two stock split, the dividend would
increase from $0.113 per share to $0.16 per share.
"In order to enable improved trading liquidity, we are declaring a
three-for-two stock split," said Miles S. Nadal, Chairman and Chief
Executive Officer of MDC Partners. "In addition, as we continue to
outperform our internal free cash flow expectations, we are again increasing
our quarterly dividend by 41.2% to $0.24 per share from $0.17 per share. We
remain committed to the return of capital through a dividend as a means of
rewarding our shareholders and driving shareholder value."
About MDC Partners Inc.
MDC Partners is one of the world's largest Business Transformation
Organizations that utilizes technology, marketing communications, data
analytics, insights and strategic consulting solutions to drive meaningful
returns on Marketing and Communications Investments for multinational
clients in the United States, Canada, and worldwide.
MDC Partners' durable competitive advantage is to Empower the Most Talented
Entrepreneurial Thought Leaders to Drive Business Success to new levels of
Achievement, for both our Clients and our Shareholders, reinforcing MDC
Partners' reputation as "The Place Where Great Talent Lives."
MDC Partners' Class A shares are publicly traded on NASDAQ under the symbol
"MDCA" and on the Toronto Stock Exchange under the symbol "MDZ.A".
This press release contains forward-looking statements within the meaning of
section 27A of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934. These forward-looking statements involve risks and
uncertainties which may cause the actual results or objectives to be
materially different from those expressed or implied by such forward-looking
statements. Such risk factors include, among other things, the Company's
financial performance; risks associated with the effects of economic
downturns; ability to attract and retain key clients; ongoing compliance
with debt agreements and the Company's ability to satisfy contingent payment
obligations when due; and other risk factors set forth in the Company's Form
10-K for its fiscal year ended December 31, 2012 and subsequent SEC filings.
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