ST. LOUIS, Aug. 6 /PRNewswire-FirstCall/ -- CPI Corp. (NYSE:
CPY) today announced that its Board of Directors declared a third
quarter cash dividend of 25 cents per
share. The dividend will be paid on August 23, 2010 to shareholders of record as of
August 16, 2010. As of
August 5, 2010, CPI had 7,324,128
common shares outstanding.
About CPI Corp.
Headquartered in St. Louis,
Missouri, CPI Corp. (NYSE: CPY) provides portrait
photography services at approximately 3,000 locations in
North America, principally in
Sears, Walmart and Babies "R" Us stores. '
Forward-Looking Statements
The statements contained in this press release that are not
historical facts are forward-looking statements within the meaning
of the Private Securities Litigation Reform Act of 1995, and
involve risks and uncertainties. The Company identifies
forward-looking statements by using words such as "preliminary,"
"plan," "expect," "looking ahead," "anticipate," "estimate,"
"believe," "should," "intend" and other similar expressions.
Management wishes to caution the reader that these forward-looking
statements, such as the Company's outlook for portrait studios, net
income, future cash requirements, cost savings, compliance with
debt covenants, valuation allowances, reserves for charges and
impairments and capital expenditures, are only predictions or
expectations; actual events or results may differ materially as a
result of risks facing the Company. Such risks include, but are not
limited to: the Company's dependence on Sears, Walmart and Toys "R"
Us, the approval of the Company's business practices and operations
by Sears, Walmart and Toys "R" Us, the termination, breach,
limitation or increase of the Company's expenses by Sears and Toys
"R" Us under the license agreements, or Walmart under the lease and
license agreements, customer demand for the Company's products and
services, the economic recession and resulting decrease in consumer
spending, manufacturing interruptions, dependence on certain
suppliers, competition, dependence on key personnel, fluctuations
in operating results, a significant increase in piracy of the
Company's photographs, widespread equipment failure, compliance
with debt covenants, high level of indebtedness, implementation of
marketing and operating strategies, outcome of litigation and other
claims, impact of declines in global equity markets to pension plan
and impact of foreign currency translation. The risks described
above do not include events that the Company does not currently
anticipate or that it currently deems immaterial, which may also
affect its results of operations and financial condition. The
Company undertakes no obligation to update or revise publicly any
forward-looking statements, whether as a result of new information,
future events or otherwise.
SOURCE CPI Corp.
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