Blyth, Inc.'s ViSalus Unit to Pay $22 Million Dividend
Continued Strong Cash Generation Drives Decision To Return Cash To Shareholders
GREENWICH, Conn., Nov. 21, 2012 Blyth, Inc. (NYSE: BTH), a direct to consumer company and leading designer and marketer of candles, accessories for the home, and health and wellness products sold through the direct selling and direct marketing channels, today announced that ViSalus, its direct seller of health and wellness products and originator of the Body by Vi™ 90 Day Challenge, will pay a $22 million dividend to its shareholders.
As majority shareholder, Blyth will receive 72.7% of the dividend.
Commenting on the strength in ViSalus' operating cash flow, Robert B. Goergen, Chairman and Chief Executive Officer noted that given ViSalus' earnings performance and cash generation in excess of its working capital requirements, Blyth management and the ViSalus Founders believe paying a cash dividend before year-end is an effective way to enhance value for all of ViSalus' shareholders.
Blyth, Inc., headquartered in Greenwich, CT, USA, is a direct to consumer business focused on both the direct selling and direct marketing channels. It designs and markets home fragrance products and decorative accessories, as well as weight management products, nutritional supplements and energy drink mixes.
These products are sold through Direct Selling under both the home party plan and network marketing methods. The Company also designs and markets household convenience items and personalized gifts through the catalog/Internet channel. The Company manufactures most of its candles and sources nearly all of its other products.
Its products are sold direct to the consumer in North America under the PartyLite®, Two Sisters Gourmet® by PartyLite and ViSalus Sciences® brands, to consumers in the catalog/Internet channel under the As We Change®, Miles Kimball®, Exposures®, Walter Drake® and Easy Comforts® brands. In Europe, Blyth's products are also sold under the PartyLite brand.
Blyth, Inc. may be found on the Internet at www.blyth.com.
Visalus Top Earners – The est. earnings are as follows: