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NASHVILLE, Tenn.--(BUSINESS WIRE)--July 23, 1998--Renal Care Group, Inc. today announced that its Board of Directors has approved a three-for-two stock split to be effected in the form of a 50% stock dividend. One additional share of common stock will be issued for every two shares held by shareholders of record at the close of business on August 7, 1998. The additional shares will be distributed on August 24, 1998. Renal Care Group currently has approximately 27 million shares of common stock outstanding.
Mr. Sam A. Brooks, Jr., president and chief executive officer of Renal Care Group, Inc., said, "In contemplating the stock split, our Board of Directors considered the continuing appreciation in the Company's stock price coupled with the Company's continued outstanding earnings performance. The Board believes that the stock split should continue to broaden the marketability and distribution of Renal Care Group's common stock and symbolizes the Board's belief in the increased value of the Company and confidence in management's performance."
Renal Care Group, Inc. is a nephrology services company that was founded in February 1996 to focus on the provision of care to patients with kidney disease, including patients suffering from chronic kidney failure. The Company currently provides dialysis and ancillary services to approximately 10,400 patients through 150 owned outpatient dialysis centers in 18 states, in addition to providing acute dialysis services in 86 hospitals.
This press release contains forward-looking statements that involve various risks and uncertainties. Actual results could differ materially from those contained in these forward-looking statements due to certain factors, including business and economic conditions and availability of financing. These and other risks and uncertainties are detailed in the Company's reports filed with the SEC.
Contact:
Renal Care Group Inc., Nashville
Ronald Hinds, 615/345-5500 |
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