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Chemed shareholders elect directors, ratify accountant

EditorBrando Bricchi
Published 05/20/2024, 02:58 PM
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CINCINNATI - Chemed Corporation (NYSE:CHE), a company with operations in healthcare and plumbing services, announced the results of its annual stockholders' meeting held recently. During the meeting, shareholders elected a slate of 10 directors to the company's board and ratified the appointment of PricewaterhouseCoopers LLP as Chemed's independent accountants for the year 2024.

Further, the company's executive compensation received approval from its shareholders. However, they voted against a stockholder proposal concerning the ratification of termination pay.

Subsequent to the stockholders' assembly, Chemed's Board of Directors declared a quarterly cash dividend of 40 cents per share on the company's capital stock. This dividend is scheduled to be paid on June 18, 2024, to shareholders recorded as of May 30, 2024. Chemed has a long-standing history of dividend payments, marking this as the 212th consecutive quarterly dividend in its 53-year tenure as a publicly traded entity.

Chemed Corporation, listed on the New York Stock Exchange and based in Cincinnati, Ohio, oversees two wholly owned subsidiaries: VITAS Healthcare and Roto-Rooter. VITAS Healthcare is recognized as the largest provider of hospice care in the United States, while Roto-Rooter is known as the nation's top plumbing and drain cleaning service provider.

The company also cautioned that statements made during the press release could be forward-looking and are based on current information available to Chemed's management regarding future events or performance. These statements are subject to risks that may cause actual results to differ significantly. Chemed also noted that it does not have an obligation to update forward-looking statements should expectations change or unforeseen events occur.

This report is based on a press release statement from Chemed Corporation.

InvestingPro Insights

As Chemed Corporation (NYSE:CHE) continues its consistent history of dividend payments with its recent declaration, InvestingPro data and insights offer a deeper look into the company's financial health and stock performance. With a market capitalization of $8.48 billion and a P/E ratio of 29.87, Chemed's valuation reflects its position in the market. The company's revenue for the last twelve months as of Q1 2024 stands at $2.29 billion, with a growth of 5.96%, showcasing its ability to increase earnings.

InvestingPro Tips highlight that Chemed has not only maintained dividend payments for an impressive 54 consecutive years but has also raised its dividend for 15 consecutive years, indicating a strong commitment to returning value to shareholders. Additionally, the company's cash flows can sufficiently cover its interest payments, suggesting financial stability. However, analysts have revised their earnings downwards for the upcoming period, which may be a point of consideration for investors.

For those looking to delve further into Chemed's financials and stock performance, InvestingPro offers additional tips and metrics. Currently, there are 11 more InvestingPro Tips available for Chemed, which can provide investors with a comprehensive understanding of the company's future prospects and stock valuation. Interested readers can access these insights and take advantage of a special offer using the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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