Chemed stockholders reject MMI Investments' slate of nominees

By Lisa Kerner

Charlotte, N.C., May 29 - Chemed Corp. stockholders elected all of the company's board of director nominees, including new directors Ernest J. Mrozek and Thomas P. Rice, at its annual meeting on Friday.

Stockholders also ratified the continuation of PricewaterhouseCoopers LLP as Chemed's independent accountants for 2009.

Chemed's board also declared a quarterly cash dividend of $0.06 per share payable on June 12 to stockholders of record as of June 8.

According to Chemed, this is the 152nd consecutive quarterly dividend paid to stockholders in the company's 38-history as a public company.

As previously reported, dissident hedge fund MMI Investments, LP solicited proxies to elect five dissident nominees to Chemed's board.

Cincinnati-based Chemed said MMI wants to separate Chemed's plumbing services company, Roto-Rooter, and its hospice care business, Vitas.

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