Office Depot Initiates Inaugural Quarterly Cash Dividend of $0.025 Per Share
August 03 2016 - 6:50AM
Business Wire
Office Depot, Inc. (NASDAQ: ODP) announced that its Board of
Directors declared a dividend of $0.025 per share ($0.10 per share
on an annualized basis) on the common stock of the Company. The
dividend is payable on September 15, 2016, to shareholders of
record at the close of business on August 25, 2016.
Office Depot Chairman and CEO, Roland Smith, commented, “The
initiation of a quarterly dividend reflects confidence in our
ability to generate future cash flow, as well as our commitment to
shareholder return. The annualized dividend of $0.10 per share
represents an approximate 3% yield based on the $3.29 closing stock
price on August 2, 2016.”
About Office Depot, Inc.
Office Depot, Inc. is a leading global provider of products,
services, and solutions for every workplace – whether your
workplace is an office, home, school or car.
Office Depot, Inc. is a resource and a catalyst to help
customers work better. We are a single source for everything
customers need to be more productive, including the latest
technology, core office supplies, print and document services,
business services, facilities products, furniture, and school
essentials.
The Company has annual sales of approximately $14 billion,
employs approximately 49,000 associates, and serves consumers and
businesses in 59 countries with approximately 1,800 retail stores,
award-winning e-commerce sites and a dedicated business-to-business
sales organization – all delivered through a global network of
wholly owned operations, franchisees, licensees and alliance
partners. The Company operates under several banner brands
including Office Depot, OfficeMax, Grand & Toy, and Viking. The
company’s portfolio of exclusive product brands include TUL, Foray,
Brenton Studio, Ativa, WorkPro, Realspace and HighMark.
Office Depot, Inc.’s common stock is listed on the NASDAQ Global
Select Market under the symbol “ODP”. Additional press information
can be found at: http://news.officedepot.com.
FORWARD LOOKING STATEMENTS
This communication may contain forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995, including but not limited to statements regarding the size
and timing of future dividends. These statements or disclosures may
discuss goals, intentions and expectations as to future trends,
plans, events, results of operations or financial condition, or
state other information relating to, among other things, Office
Depot, based on current beliefs and assumptions made by, and
information currently available to, management. Forward-looking
statements generally will be accompanied by words such as
“anticipate,” “believe,” “plan,” “could,” “estimate,” “expect,”
“forecast,” “guidance,” “intend,” “may,” “possible,” “potential,”
“predict,” “project,” “propose” or other similar words, phrases or
expressions, or other variations of such words. These
forward-looking statements are subject to various risks and
uncertainties, many of which are outside of Office Depot’s control.
There can be no assurances that Office Depot will realize these
expectations or that these beliefs will prove correct, and
therefore investors and stockholders should not place undue
reliance on such statements.
Factors that could cause actual results to differ materially
from those in the forward-looking statements are described in
Office Depot’s Annual Reports on Form 10-K, as amended, and
Quarterly Reports on Form 10-Q filed with the Securities and
Exchange Commission. Office Depot does not assume any obligation to
update or revise any forward-looking statements.
All trademarks, service marks and trade names of Office Depot,
Inc. and OfficeMax Incorporated used herein are trademarks or
registered trademarks of Office Depot, Inc. and OfficeMax
Incorporated, respectively. Any other product or company names
mentioned herein are the trademarks of their respective owners.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20160803005325/en/
Office Depot, Inc.Richard Leland, 561-438-3796Investor
RelationsRichard.Leland@officedepot.comorKaren Denning,
630-438-7445Media RelationsKaren.Denning@officedepot.com
ODP (NASDAQ:ODP)
Historical Stock Chart
From Sep 2024 to Oct 2024
ODP (NASDAQ:ODP)
Historical Stock Chart
From Oct 2023 to Oct 2024