NEW YORK, March 15, 2012 /PRNewswire/ -- Weight
Watchers International, Inc. (NYSE: WTW) today announced that its
Board of Directors declared its quarterly cash dividend of
$0.175 per share of common stock,
which corresponds to an annual dividend rate of $0.70 per share. This quarterly dividend
will be payable on April 30, 2012 to
shareholders of record at the close of business on April 23, 2012.
The Company has typically issued a quarterly cash dividend to
shareholders of record at the end of each fiscal quarter. The
Board has selected the current record date to allow for the
completion of its previously announced "modified Dutch auction"
tender offer for up to $720,000,000
of its common stock and related share repurchase from Artal Sp. z
o.o., Succursale de Luxembourg,
the Company's majority shareholder. The tender offer is
scheduled to expire at 12:00 midnight, New York City time, on Thursday, March 22, 2012, and the repurchase from
Artal is expected to occur on the 11th business day following the
expiration of the tender offer.
About Weight Watchers International, Inc.
Weight Watchers International, Inc. is the world's leading
provider of weight management services, operating globally through
a network of Company-owned and franchise operations. Weight
Watchers holds over 45,000 meetings each week where members receive
group support and learn about healthy eating patterns, behavior
modification and physical activity. WeightWatchers.com provides
innovative, subscription weight management products over the
Internet and is the leading Internet-based weight management
provider in the world. In addition, Weight Watchers offers a wide
range of products, publications and programs for those interested
in weight loss and weight control.
This news release and any attachments include
"forward-looking statements," within the meaning of Section 27A of
the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended, including, in
particular, earnings guidance and any statements about the
Company's plans, strategies, prospects and "modified Dutch auction"
tender offer and related share repurchase. The Company generally
uses the words "may," "will," "could," "expect," "anticipate,"
"believe," "estimate," "plan," "intend" and similar expressions in
this news release and any attachments to identify forward-looking
statements. The Company bases these forward-looking statements on
its current views with respect to future events and financial
performance. Actual results could differ materially from those
projected in the forward-looking statements. These forward-looking
statements are subject to risks, uncertainties and assumptions,
including, among other things: competition from other weight
management industry participants or the development of more
effective or more favorably perceived weight management methods;
the Company's ability to continue to develop innovative new
services and products and enhance its existing services and
products, or the failure of its services and products to continue
to appeal to the market; the effectiveness of the Company's
marketing and advertising programs; the success of the tender offer
and related share repurchase; the Company's ability to arrange
financing sufficient to fund the tender offer and related share
repurchase and the terms on which such financing is raised; the
impact on the Weight Watchers brand of actions taken by the
Company's franchisees, licensees and suppliers; risks and
uncertainties associated with the Company's international
operations, including economic, political and social risks and
foreign currency risks; the Company's ability to successfully make
acquisitions or enter into joint ventures, including its ability to
successfully integrate, operate or realize the projected benefits
of such businesses; uncertainties related to a downturn in general
economic conditions or consumer confidence; the seasonal nature of
the Company's business; the impact of events that discourage people
from gathering with others; the Company's ability to enforce its
intellectual property rights both domestically and internationally,
as well as the impact of its involvement in any claims related to
intellectual property rights; uncertainties regarding the
satisfactory operation of the Company's information technology or
systems; the impact of security breaches or privacy concerns; the
impact of disputes with the Company's franchise operators; the
impact of existing and future laws and regulations; the impact of
the Company's debt service obligations and restrictive debt
covenants; the possibility that the interests of the Company's
majority owner will conflict with the other holders of the
Company's common stock; and other risks and uncertainties,
including those detailed from time to time in the Company's
periodic reports filed with the Securities and Exchange Commission.
You should not put undue reliance on any forward-looking
statements. You should understand that many important factors,
including those discussed herein, could cause the Company's results
to differ materially from those expressed or suggested in any
forward-looking statement. Except as required by law, the Company
does not undertake any obligation to update or revise these
forward-looking statements to reflect new information or events or
circumstances that occur after the date of this news release or to
reflect the occurrence of unanticipated events or otherwise.
Readers are advised to review the Company's filings with the
Securities and Exchange Commission (which are available from the
SEC's EDGAR database at www.sec.gov, at various SEC reference
facilities in the United States
and via the Company's website at
www.weightwatchersinternational.com).
Contact
Information:
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Investors:
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Weight
Watchers International, Inc.
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Brainerd
Communicators, Inc.
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Sarika
Sahni
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Corey
Kinger
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Investor
Relations
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(212)
986-6667
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(212)
589-2751
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SOURCE Weight Watchers International, Inc.