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ResMed Inc. Announces Plan To Initiate Dividend And Update On Chief Executive Officer Succession
Date:5/17/2012

SAN DIEGO, May 17, 2012 /PRNewswire/ -- ResMed Inc. (NYSE: RMD) today announced plans to initiate a dividend beginning in fiscal year 2013.

(Logo: http://photos.prnewswire.com/prnh/20100203/RESMEDLOGO)

Subject to declaration by the board of directors, ResMed plans to initiate a quarterly dividend of $0.17 per share in the first quarter of its fiscal 2013, which begins on July 1, 2012.  ResMed plans to pay the dividend in US currency to holders of its common stock trading on the New York Stock Exchange (NYSE).  Holders of Chess Depositary Instruments (CDIs) trading on the Australian Stock Exchange will receive an equivalent amount in Australian currency, based on the exchange rate on the record date, and reflecting the 10:1 ratio between CDIs and NYSE shares. ResMed expects the dividend will be unfranked for Australian tax purposes.

"Over the past several years, we have used some of our cash to invest in our business through increased research and development, market development, acquisitions, and capital expenditures," said Peter C. Farrell, Ph.D., ResMed's chairman and chief executive officer. "We have also used some of our cash to repurchase shares.  We expect to continue all these activities in the future. Even with these investments, we have sufficient funds for strategic opportunities and to operate our business and therefore, we are initiating a dividend for our shareholders.  We are confident about our future and see exciting opportunities ahead."

Additionally, ResMed's board of directors has reaffirmed its current process for chief executive officer succession.  The board of directors has requested that Dr. Peter Farrell remain as chief executive officer until the end of calendar 2013, which he has agreed to do.  In the meantime, potential internal chi
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SOURCE ResMed Inc.
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