MDI Technologies, Inc. Declares Cash Dividend
ST. LOUIS, Jan. 24 /PRNewswire-FirstCall/ -- MDI Technologies (OTC Bulletin Board: MDTI; and dually listed on TSX Venture Exchange: MDD.U), a leading provider of clinical and accounting software and support services to the long-term healthcare industry, announced today that its Board of Directors has declared a cash dividend of $0.05 per share, payable February 23, 2005, to shareholders of record on February 7, 2005.
Commenting on the announcement, Todd Spence, president and CEO, stated, "Our board has decided to return a portion of our excess cash flows to shareholders. This action speaks to our confidence in our recurring revenues and strong profitability." The board will review the declaration of dividends each year.
About the Company
MDI Technologies, Inc. is a leading provider of clinical and accounting software and support to the U. S. long-term healthcare industry. The company offers a modular suite of software products consisting of fully integrated clinical care and accounting modules, which is designed to allow a long-term care provider the ability to monitor and assess the medical condition of each of its residents, while maintaining accurate record keeping and compliance with government and other regulatory agencies. At December 31, 2004, MDI had approximately 11.2 million shares outstanding, which are traded on the OTC BB under the symbol MDTI and on the TSX Venture Exchange under the symbol MDD.U.
For more information regarding MDI Technologies Inc., go to http://www.mditech.com/ . Forward-Looking Statements
Certain statements contained herein with respect to factors which may affect future earnings, including management's beliefs and assumptions based on information currently available, are forward-looking statements made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements that are not historical facts involve risks and uncertainties, and results could vary materially from the descriptions contained herein. For more details on risk factors, see the Company's Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and other filings with the Securities and Exchange Commission.MDI Technologies, Inc.
CONTACT: Todd Spence, President & CEO of MDI Technologies, Inc.,+1-314-439-6400, email@example.com , or in Canada, Zak Dingsdale of TangentManagement, +1-604-642-0115, firstname.lastname@example.org , or Diane Hettwer ofFinancial Relations Board, +1-312-640-6760,email@example.com
Web site: http://www.mditech.com/