Catalina Marketing Increases Stock Repurchase Authorization to $100 Million and Declares First Cash Dividend
01 September 2004 - 11:58PM
PR Newswire (US)
Catalina Marketing Increases Stock Repurchase Authorization to $100
Million and Declares First Cash Dividend ST. PETERSBURG, Fla.,
Sept. 1 /PRNewswire-FirstCall/ -- Catalina Marketing Corporation
(NYSE:POS) announced that its board of directors has authorized
$100 million of funds to be available for the repurchase of the
company's common stock. This authorization replaces the $44 million
unused portion of the $100 million repurchase program authorized by
the board in July 2002. The company last purchased shares in June
2003 and had not repurchased any shares during the current fiscal
year as it was precluded from doing so under its previous bank
credit facility. The credit facility was replaced on August 27,
2004 and the company is no longer under restrictions regarding the
repurchase of its common stock. In addition, the company announced
that its board of directors has declared an annual cash dividend to
shareholders of $0.30 per share. This is the first time in the
company's history that it will be paying a cash dividend. The
dividend will be paid on October 1, 2004 to shareholders of record
as of September 15, 2004. Frederick W. Beinecke, Catalina's
chairman of the board of directors and chairman of the company's
finance committee, commented, "The board of directors' decision to
declare a cash dividend and increase the level of authority under
the share repurchase program reflects our level of confidence in
Catalina's consistent ability to generate significant cash flows
and achieve ongoing strong financial performance. The dividend and
share repurchase authority are consistent with the company's
strategy to focus on, and enhance, the company's long-term value
for its shareholders. We are confident that the company will
continue to have sufficient resources to actively invest in
strategic initiatives to drive future growth." Based in St.
Petersburg, FL, Catalina Marketing Corporation
(http://www.catalinamarketing.com/ ) was founded 20 years ago based
on the premise that targeting communications based on actual
purchase behavior would generate more effective consumer response.
Today, Catalina Marketing combines unparalleled insight into
consumer behavior with dynamic consumer access. This combination of
insight and access provides marketers with the ability to execute
behavior-based marketing programs, ensuring that the right consumer
receives the right message at exactly the right time. Catalina
Marketing offers an array of behavior-based promotional messaging,
loyalty programs and direct-to-patient information. Personally
identifiable data that may be collected from the company's targeted
marketing programs, as well as its research programs, are never
sold or given to any outside party without the express permission
of the consumer. Certain statements in the preceding paragraphs are
forward looking, and actual results may differ materially.
Statements not based on historic facts involve risks and
uncertainties, including, but not limited to, the changing market
for promotional activities, especially as it relates to policies
and programs of packaged goods and pharmaceutical manufacturers and
retailers, government and regulatory statutes, rules, regulations
and policies, the effect of economic and competitive conditions and
seasonal variations, actual promotional activities and programs
with the company's customers, the pace of installation of the
company's store network, the success of new services and businesses
and the pace of their implementation, the company's ability to
maintain favorable client relationships, the timing of the
completion of the company's future SEC filings, the outcome and
impact of an ongoing SEC investigation into certain of the
company's prior fiscal years, and the outcome and impact of the
pending shareholder class action and derivative lawsuits.
DATASOURCE: Catalina Marketing Corporation CONTACT: Investors,
Christopher W. Wolf, Chief Financial Officer, +1-727-579-5218, or
Joanne Freiberger, Vice President, Finance, +1-727-579-5116, or
media, Susan Gear, Executive Director, Marketing, +1-727-579-5452,
all of Catalina Marketing Corporation Web site:
http://www.catalinamarketing.com/
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