This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

MercadoLibre, Inc. Initiates Quarterly Cash Dividend

BUENOS AIRES, Argentina, Feb. 23, 2011 (GLOBE NEWSWIRE) -- MercadoLibre, Inc. (Nasdaq:MELI) (, Latin America's leading e-commerce technology company, today announced that its Board of Directors has adopted a dividend policy pursuant to which the Company intends to pay quarterly cash dividends on its common stock in 2011. The Board declared the first quarterly cash dividend of $0.08 per share payable to holders of the Company's common stock.

The Company anticipates a total annual dividend of $0.32 per share of common stock in 2011, or approximately $14.0 million, based on the current number of outstanding shares. The first quarterly cash dividend will be paid on April 15, 2011 to stockholders of record as of the close of business on March 31, 2011

"We are pleased to initiate a quarterly cash dividend policy, which indicates our confidence in our financial strength and ability to generate sustained cash flow from operations going forward," said Marcos Galperin, MercadoLibre's President and CEO. "With our powerful e-commerce ecosystem and a value proposition that continues to prove very attractive to the fast-growing base of Latin American Internet users, we have built momentum and have positioned our business very well for the future. We anticipate returning approximately $14 million to shareholders in 2011 as a result of this dividend policy, an amount that allows us to reward our shareholders while maintaining sufficient cash levels to aggressively invest in our business. In future years, we expect to adjust our annual dividend roughly in line with our growth in net income."

The cash dividend policy and the payment of future cash dividends under that policy will be made at the discretion of the Company's Board of Directors and will depend on earnings, operating and financial conditions, capital requirements, and other factors deemed relevant by the Board, including the applicable requirements of the Delaware General Corporation Law and the best interests of MercadoLibre, Inc.'s stockholders.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,061.92 +11.17 0.07%
S&P 500 2,013.43 +15.91 0.80%
NASDAQ 4,815.5790 +4.7910 0.10%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs