Office Depot Declares Quarterly Cash Dividend of $0.025 Per Share
February 04 2020 - 8:00AM
Business Wire
Office Depot, Inc. (NASDAQ:ODP), a leading provider of business
services and supplies, products and technology solutions, today
announced that the Board of Directors declared a dividend of $0.025
per share ($0.10 per share on an annualized basis) on its common
stock. The dividend is payable on March 13, 2020, to shareholders
of record at the close of business on March 2, 2020.
About Office Depot, Inc.
Office Depot, Inc. (NASDAQ:ODP) is a leading provider of
business services and supplies, products and technology solutions
to small, medium and enterprise businesses, through a fully
integrated business-to-business (“B2B”) distribution platform of
approximately 1,300 stores, online presence, and dedicated sales
professionals and technicians. Through its banner brands Office
Depot®, OfficeMax®, CompuCom® and Grand&Toy®, as well as
others, the Company offers its customers the tools and resources
they need to focus on their passion of starting, growing and
running their business. For more information, visit
news.officedepot.com and follow @officedepot on Facebook, Twitter
and Instagram.
Office Depot is a trademark of The Office Club, Inc. OfficeMax
is a trademark of OMX, Inc. CompuCom is a trademark of CompuCom
Systems, Inc. Grand&Toy is a trademark of Grand & Toy, LLC
in Canada. ©2019 Office Depot, Inc. All rights reserved. Any other
product or company names mentioned herein are the trademarks of
their respective owners.
FORWARD LOOKING STATEMENTS
This communication may contain forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. These statements or disclosures may discuss goals, intentions
and expectations as to future trends, plans, events, results of
operations, cash flow 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,” “outlook,”
“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 stakeholders should
not place undue reliance on such statements.
Factors that could cause actual results to differ materially
from those in the forward-looking statements include, among other
things, highly competitive office products market and failure to
differentiate Office Depot from other office supply resellers or
respond to decline in general office supplies sales or to shifting
consumer demands; competitive pressures on Office Depot’s sales and
pricing; the risk that Office Depot may not be able to realize the
anticipated benefits of acquisitions due to unforeseen liabilities,
future capital expenditures, expenses, indebtedness and the
unanticipated loss of key customers or the inability to achieve
expected revenues, synergies, cost savings or financial
performance; the risk that Office Depot is unable to transform the
business into a service-driven company or that such a strategy will
result in the benefits anticipated; failure to execute effective
advertising efforts; the risk that Office Depot is unable to
successfully maintain a relevant omni-channel experience for its
customers; the risk that Office Depot is unable to execute the
Business Acceleration Program successfully or that such program
will result in the benefits anticipated; failure to attract and
retain key personnel, including qualified employees in stores,
service centers, distribution centers, field and corporate offices
and executive management; disruptions in Office Depot computer
systems; breach of Office Depot information technology systems
affecting reputation, business partner and customer relationships
and operations and resulting in high costs; loss of business with
government entities, purchasing consortiums, and sole- or limited-
source distribution arrangements; product safety and quality
concerns of manufacturers’ branded products and services and Office
Depot private branded products; increases in fuel and other
commodity prices; increases in the cost of material, energy and
other production costs, or unexpected costs that cannot be recouped
in product pricing; unanticipated downturns in business
relationships with customers or terms with the suppliers,
third-party vendors and business partners; disruption of global
sourcing activities, evolving foreign trade policy (including new
tariffs on certain foreign made goods); a downgrade in Office Depot
credit ratings or a general disruption in the credit markets;
covenants in the credit facility and term loan; incurrence of
significant impairment charges; fluctuation in quarterly operating
results due to seasonality of Office Depot business; changes in tax
laws in jurisdictions where Office Depot operates; unexpected
claims, charges, litigation, dispute resolutions or settlement
expenses; fluctuations in currency exchange rates; changes in the
regulatory environment, legal compliance risks and violations of
the U.S. Foreign Corrupt Practices Act; increases in wage and
benefit costs and changes in labor regulations; catastrophic
events, including the impact of weather events on Office Depot’s
business; failure to effectively manage Office Depot real estate
portfolio; volatility in Office Depot common stock price, and
unanticipated changes in the markets for Office Depot’s business
segments. The foregoing list of factors is not exhaustive.
Investors and shareholders should carefully consider the foregoing
factors and the other risks and uncertainties described in Office
Depot’s Annual Reports on Form 10-K, Quarterly Reports on Form
10-Q, and Current Reports on Form 8-K filed with the U.S.
Securities and Exchange Commission. Office Depot does not assume
any obligation to update or revise any forward-looking
statements.
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version on businesswire.com: https://www.businesswire.com/news/home/20200204005145/en/
Tim Perrott
Investor Relations
561-438-4629
Timothy.Perrott@officedepot.com
Danny Jovic
Media Relations
561-438-1594
Danny.Jovic@officedepot.com
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