Ambassadors Group Declares an Increased Quarterly Dividend and Share Repurchase
November 09 2006 - 5:35PM
Business Wire
Ambassadors Group, Inc. (NASDAQ: EPAX) (�Company�), a leading
provider of educational travel experiences, announced today that
its board of directors increased its quarterly dividend 35 percent,
to $0.115 per share from $0.085 per share. The new dividend will be
paid on December 8, 2006, to all common shareholders of record as
of November 24, 2006. The Company�s board of directors continually
reviews the Company�s dividend policy to ensure compliance with
capital requirements, regulatory limitations, the Company�s
financial position and other conditions which may affect the
Company�s desire or ability to pay dividends in the future. The
Company also announced today that the board of directors approved
the repurchase of an additional $11 million of the Company's common
stock. The total amount now authorized for repurchase is $25
million, of which the Company has already repurchased approximately
$14 million pursuant to a repurchase program approved by the board
of directors in May 2004 and increased in August 2005. The
repurchase program provides for buying stock on the open market or
through negotiated transactions and retiring the shares to the
Company's treasury. The Company will determine the timing, the
price and the number of shares to be repurchased under the program.
Jeff Thomas, president and chief executive officer of Ambassadors
Group, Inc., stated, �Year to date, we have returned $12.8 million
to shareowners in the form of dividends ($5.3 million) and share
repurchases ($7.5 million). The increased dividend and share
repurchase program emphasize our commitment to delivering increased
value to our shareowners and enhance the long term value of our
organization.� Business overview Ambassadors Group, Inc. is a
leading educational travel organization that organizes and promotes
international and domestic programs for students, athletes, and
professionals. These programs provide the opportunities for grade
school, junior, and senior high school students to visit foreign
and domestic destinations to learn about the history, government,
economy and culture of such areas, as well as for junior and senior
high school athletes to participate in international sports
challenges. Our professional programs emphasize meetings and
seminars between participants and persons in similar professions
abroad. We are headquartered in Spokane, Washington, with
associates also in Denver, Colorado and Washington, D.C. In this
press release, �Company,� �we,� �us,� and �our� refer to
Ambassadors Group, Inc. Forward-looking statements This press
release contains forward-looking statements regarding our actual
and expected financial performance and the reasons for variances
between period-to-period results. Forward-looking statements, which
are included per the �safe harbor� provisions of the Private
Securities Litigation Reform Act of 1995, may involve known and
unknown risks, uncertainties and other factors that may cause our
actual results and performance in future periods to be materially
different from any future results or performance suggested by the
forward-looking statements in this release. Such forward-looking
statements speak only as of the date of this release and may not
reflect risks related to the conflict in the Middle East and
international unrest, outbreak of disease, conditions in the travel
industry, direct marketing environment, changes in economic
conditions and changes in the competitive environment. We expressly
disclaim any obligation to provide public updates or revisions to
any forward-looking statements found herein to reflect any changes
in our expectations or any change in events. Although we believe
the expectations reflected in such forward-looking statements are
based upon reasonable assumptions, we can give no assurance that
our expectations will be attained. For a more complete discussion
of these and other factors, please refer to the Ambassadors Group,
Inc. 10K filed March 9, 2006 and proxy filed April 7, 2006.
Ambassadors Group, Inc. (NASDAQ: EPAX) ("Company"), a leading
provider of educational travel experiences, announced today that
its board of directors increased its quarterly dividend 35 percent,
to $0.115 per share from $0.085 per share. The new dividend will be
paid on December 8, 2006, to all common shareholders of record as
of November 24, 2006. The Company's board of directors continually
reviews the Company's dividend policy to ensure compliance with
capital requirements, regulatory limitations, the Company's
financial position and other conditions which may affect the
Company's desire or ability to pay dividends in the future. The
Company also announced today that the board of directors approved
the repurchase of an additional $11 million of the Company's common
stock. The total amount now authorized for repurchase is $25
million, of which the Company has already repurchased approximately
$14 million pursuant to a repurchase program approved by the board
of directors in May 2004 and increased in August 2005. The
repurchase program provides for buying stock on the open market or
through negotiated transactions and retiring the shares to the
Company's treasury. The Company will determine the timing, the
price and the number of shares to be repurchased under the program.
Jeff Thomas, president and chief executive officer of Ambassadors
Group, Inc., stated, "Year to date, we have returned $12.8 million
to shareowners in the form of dividends ($5.3 million) and share
repurchases ($7.5 million). The increased dividend and share
repurchase program emphasize our commitment to delivering increased
value to our shareowners and enhance the long term value of our
organization." Business overview Ambassadors Group, Inc. is a
leading educational travel organization that organizes and promotes
international and domestic programs for students, athletes, and
professionals. These programs provide the opportunities for grade
school, junior, and senior high school students to visit foreign
and domestic destinations to learn about the history, government,
economy and culture of such areas, as well as for junior and senior
high school athletes to participate in international sports
challenges. Our professional programs emphasize meetings and
seminars between participants and persons in similar professions
abroad. We are headquartered in Spokane, Washington, with
associates also in Denver, Colorado and Washington, D.C. In this
press release, "Company," "we," "us," and "our" refer to
Ambassadors Group, Inc. Forward-looking statements This press
release contains forward-looking statements regarding our actual
and expected financial performance and the reasons for variances
between period-to-period results. Forward-looking statements, which
are included per the "safe harbor" provisions of the Private
Securities Litigation Reform Act of 1995, may involve known and
unknown risks, uncertainties and other factors that may cause our
actual results and performance in future periods to be materially
different from any future results or performance suggested by the
forward-looking statements in this release. Such forward-looking
statements speak only as of the date of this release and may not
reflect risks related to the conflict in the Middle East and
international unrest, outbreak of disease, conditions in the travel
industry, direct marketing environment, changes in economic
conditions and changes in the competitive environment. We expressly
disclaim any obligation to provide public updates or revisions to
any forward-looking statements found herein to reflect any changes
in our expectations or any change in events. Although we believe
the expectations reflected in such forward-looking statements are
based upon reasonable assumptions, we can give no assurance that
our expectations will be attained. For a more complete discussion
of these and other factors, please refer to the Ambassadors Group,
Inc. 10K filed March 9, 2006 and proxy filed April 7, 2006.
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