Ebix, Inc. (Nasdaq:EBIX), a leading international supplier of
On-Demand software and E-commerce services to the insurance
industry, today announced that its Board of Directors have declared
a quarterly dividend of 7.5 cents per outstanding share of the
Company's common stock. The dividend is payable March 14, 2014, to
shareholders of record at the close of business on February 20,
2014.
Ebix said the dividend announcement reflects its strong liquid
cash reserves of approximately $57 million as of December 31, 2013,
and is consistent with the company's goal of delivering profitable
growth for all stakeholders.
"Our capital strategy has four facets to it – making accretive
acquisitions in niche business areas, renewing our share repurchase
plan, further strengthening our balance sheet and providing
attractive returns to our shareholders," said Robin Raina, Ebix
Chairman, President & Chief Executive Officer. "With our strong
cash reserves as of year end, and our faith in the continued cash
generation abilities of the Company, we believe that we can do all
four in the year 2014 and beyond."
About Ebix, Inc.
A leading international supplier of On-Demand software and
E-commerce services to the insurance industry, Ebix, Inc.,
(Nasdaq:EBIX) provides end-to-end solutions ranging from
infrastructure exchanges, carrier systems, agency systems and BPO
services to custom software development for all entities involved
in the insurance industry.
With 30+ offices across Brazil, Singapore, Australia, the US,
UK, New Zealand, India and Canada, Ebix powers multiple exchanges
across the world in the field of life, annuity, health and property
& casualty insurance. Through its various SaaS-based software
platforms, Ebix employs hundreds of insurance and technology
professionals to provide products, support and consultancy to
thousands of customers on six continents. For more information,
visit the Company's website at www.ebix.com
SAFE HARBOR REGARDING FORWARD-LOOKING
STATEMENTS
As used herein, the terms "Ebix," "the Company," "we," "our" and
"us" refer to Ebix, Inc., a Delaware corporation, and its
consolidated subsidiaries as a combined entity, except where it is
clear that the terms mean only Ebix, Inc.
The information contained in this Press Release contains
forward-looking statements and information within the "safe harbor"
provisions of the Private Securities Litigation Reform Act of 1995,
Section 27A of the Securities Act of 1933, and Section 21E of the
Securities Exchange Act of 1934. This information includes
assumptions made by, and information currently available to
management, including statements regarding future economic
performance and financial condition, liquidity and capital
resources, acceptance of the Company's products by the market, and
management's plans and objectives. In addition, certain statements
included in this and our future filings with the Securities and
Exchange Commission ("SEC"), in press releases, and in oral and
written statements made by us or with our approval, which are not
statements of historical fact, are forward-looking statements.
Words such as "may," "could," "should," "would," "believe,"
"expect," "anticipate," "estimate," "intend," "seeks," "plan,"
"project," "continue," "predict," "will," and other words or
expressions of similar meaning are intended by the Company to
identify forward-looking statements, although not all
forward-looking statements contain these identifying words. These
forward-looking statements are found at various places throughout
this report and in the documents incorporated herein by reference.
These statements are based on our current expectations about future
events or results and information that is currently available to
us, involve assumptions, risks, and uncertainties, and speak only
as of the date on which such statements are made.
Our actual results may differ materially from those expressed or
implied in these forward-looking statements. Factors that may cause
such a difference, include, but are not limited to those discussed
in our Annual Report on Form 10-K and subsequent reports filed with
the SEC, as well as: the risk of an unfavorable outcome of the
pending governmental investigations or shareholder class action
lawsuits, reputational harm caused by such investigations and
lawsuits, the willingness of independent insurance agencies to
outsource their computer and other processing needs to third
parties; pricing and other competitive pressures and the Company's
ability to gain or maintain share of sales as a result of actions
by competitors and others; changes in estimates in critical
accounting judgments; changes in or failure to comply with laws and
regulations, including accounting standards, taxation requirements
(including tax rate changes, new tax laws and revised tax
interpretations) in domestic or foreign jurisdictions; exchange
rate fluctuations and other risks associated with investments and
operations in foreign countries (particularly in Australia and
India wherein we have significant operations); equity markets,
including market disruptions and significant interest rate
fluctuations, which may impede our access to, or increase the cost
of, external financing; and international conflict, including
terrorist acts.
Except as expressly required by the federal securities laws, the
Company undertakes no obligation to update any such factors, or to
publicly announce the results of, or changes to any of the
forward-looking statements contained herein to reflect future
events, developments, changed circumstances, or for any other
reason.
Readers should carefully review the disclosures and the risk
factors described in the documents we file from time to time with
the SEC, including future reports on Forms 10-Q and 8-K, and any
amendments thereto.
You may obtain our SEC filings at our website, www.ebix.com
under the "Investor Information" section, or over the Internet at
the SEC's web site, www.sec.gov.
CONTACT: Investors
Steven Barlow, Vice President - Investor Relations
678-281-2043 or steve.barlow@ebix.com
Aaron Tikkoo, Investor Relations
678-281-2027 or atikkoo@ebix.com
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