Interactive Data Corporation (NYSE: IDC) today announced that its Board of Directors has declared a special dividend of $0.80 per share of common stock. The dividend is payable on July 7, 2005 to stockholders of record on June 15, 2005. In addition, Interactive Data announced it has completed its one million share buyback program, which was originally authorized in September 2004. With the completion of this most recent program, Interactive Data's Board of Directors has authorized a new buyback program for the repurchase of up to one million shares of its common stock. In combination, the special dividend and stock repurchase program would return close to $100 million to stockholders (assuming the new buyback program is completed based on the current market value of Interactive Data's common stock). "Returning nearly $100 million to our stockholders through the combination of a special dividend and our buyback program reflects the strength of our balance sheet while maintaining the financial flexibility necessary to achieve key business objectives such as continuing to grow our business organically and pursue strategic acquisitions," stated Stuart Clark, Interactive Data's president and chief executive officer. Interactive Data has historically generated strong cash flow from operations, and ended the first quarter of 2005 with $226.1 million in cash, cash equivalents and marketable securities, and no debt. During the second quarter of 2005, Interactive Data acquired 465,400 shares under the stock buyback program initiated in September 2004 at an average purchase price of $21.08 per share. The average price for all common stock repurchased under the stock buyback program initiated in September 2004 was $21.06 per share. Repurchases made under the new one million share buyback program will be made in the open market or in privately negotiated transactions from time to time, subject to market conditions and other factors and in compliance with applicable legal requirements. Repurchases of common stock may also be made under a Rule 10b5-1 plan, which would permit shares to be repurchased when Interactive Data might otherwise be precluded from doing so under insider trading laws. Interactive Data intends to use cash on hand to fund any purchases. While the Company anticipates completing this program within one year, it is not obligated to acquire any particular amount of common stock as a result of the plan, which may be suspended or discontinued at any time. Forward-looking and Cautionary Statements This press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, and is subject to the safe-harbor created by such Act and laws. These statements include our statements related to any potential future stock repurchase transactions, including our intention to repurchase shares of our common stock from time to time under, and the source of funding for, the repurchase program as well as the timing, nature and financial impact of any such transactions related to the stock buyback program; statements related to the special dividend, including the timing, nature and financial impact of issuing any such dividend; and statements related to our cash flow and the financial flexibility associated with achieving organic growth and pursuing strategic acquisitions. These statements are subject to known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from those contemplated by the forward-looking statements. Such factors include, but are not limited to: (i) the relative performance of the economy and the U.S. stock markets as a whole; (ii) market price of our common stock and other market conditions; (iii) the difficulty of predicting our future cash needs; (iv) the nature of other investment opportunities available to us from time to time; (v) our operating cash flow; and (vi) and other factors identified in our most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission. We undertake no obligation to update these forward-looking statements. About Interactive Data Corporation Interactive Data Corporation is a leading global provider of securities pricing, financial information, and analytic tools to institutional and individual investors. The Company supplies time-sensitive pricing (including evaluated pricing), dividend, corporate action, and descriptive information for more than 3.5 million securities traded around the world, including hard-to-value instruments. Many of the world's best-known financial service and software companies subscribe to the Company's services in support of their trading, analysis, portfolio management, and valuation activities. Interactive Data Corporation is headquartered in Bedford, Massachusetts. Through its branded businesses, FT Interactive Data, ComStock, CMS BondEdge, and eSignal, Interactive Data Corporation has approximately 1,800 employees in offices located throughout North America, Europe, Asia, and Australia. Pearson plc (NYSE: PSO), an international media company, whose businesses include the Financial Times Group, Pearson Education, and the Penguin Group, owns approximately 60 percent of the outstanding common stock of Interactive Data Corporation.
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