MDC Partners Q3 Loss Widens - Quick Facts

(RTTNews) - MDC Partners Inc. (MDCA) reported that its third-quarter net loss attributable to company widened to $21.20 million or $0.68 per share, from a loss of $14.50 million or $0.47 per share, a year ago. Loss per share from continuing operations was $0.44, compared to a loss of $0.42, prior year.

On average, six analysts polled by Thomson Reuters expected the company to report profit per share of $0.16 for the quarter. Analysts' estimates typically exclude special items. Revenue rose to $288.91 million, from $265.85 million, last year. Analysts expected revenue of $290.54 million for the quarter. MDC Partners announced that its Board has approved a three-for-two split of its outstanding Class A and Class B shares in the form of a stock dividend. The company expects its trading to begin on a post-split basis on the Toronto Stock Exchange on November 20, 2013 and on the NASDAQ on November 29, 2013.

MDC Partners also announced that its Board has declared a cash dividend of $0.24 per share on all of its outstanding Class A shares and Class B shares for the third quarter of 2013. The dividend will be payable on or about November 22, 2013, to shareholders of record at the close of business on November 7, 2013. The cash dividend will be paid prior to implementing the three-for-two stock split. Following planned three-for-two stock split, the dividend would increase from $0.113 per share to $0.16 per share.