Deluxe Corp. Announces $300 Million Share Repurchase Program, Dividend
ST. PAUL, Minn. — May 5, 2016 — The board of directors of Deluxe Corp. declared a quarterly dividend of $0.30 per share on the Company’s outstanding common stock. The dividend will be payable on June 6, 2016, to shareholders of record as of the close of business on May 23, 2016.
The board of directors also authorized a new $300 million share repurchase program to be effective at the conclusion of the previous authorization. As of March 31, 2016, approximately 688 thousand shares remained to be repurchased under the previous share repurchase authorization.
“We continue to make tremendous progress as we transform Deluxe into a marketing solutions and other services provider. Dividends and common stock repurchases remain an important part of our strategy and are an effective way for us to return capital to shareholders,” says Lee Schram, CEO of Deluxe. “The new repurchase authorization is further evidence of the confidence we have in our ability grow our profitability and cash flow.”
About Deluxe Corp.
Deluxe is a growth engine for small businesses and financial institutions. 4.5 million small business customers utilize Deluxe's service and product solutions, including website development and hosting, email marketing, social media, search engine optimization and logo design, in addition to our industry-leading checks and forms offerings. Deluxe serves approximately 5,100 financial institutions with a diverse portfolio of financial technology solutions that enable them to grow revenue and manage their customers’ throughout their lifecycle, including our best-in-class check program solutions. Deluxe is also a leading provider of checks and accessories sold directly to consumers.
Source: Deluxe Corp.