Online Vacation Center Holdings Corp. Announces FY 2013 Results and a Special Dividend of $0.02 per Share
June 20 2014 - 4:45PM
Business Wire
Online Vacation Center Holdings Corp. (OTCPK:ONVC), today
announced its FY 2013 results, a share repurchase, and a special
annual cash dividend of $0.02 per share on its outstanding shares
of Common Stock. This dividend will be payable on August 15, 2014
to stockholders of record at the close of business on June 30,
2014.
Audited FY 2013 results included Net Revenues of $12,600,984
($1.04 per share), Operating Income of $978,803 ($0.08 per share),
and Net Income of $591,182 ($0.05 per share). These per share
calculations were based on 12,087,398 shares outstanding at
December 31, 2013. Complete Audited Financial Statements, are
available at: www.onlinevacationcenter.com/ir_home.cfm
In June of 2014, Online Vacation Center Holdings Corp. entered
into an agreement with Reginald Flosse to purchase 250,000 shares
of the Company’s common stock at a purchase price of $0.45 per
share. The purchase price was paid from the Company’s working
capital. This repurchase transaction is not part of the Company’s
previously announced repurchase program.
In announcing the special annual cash dividend, Edward B.
Rudner, Chairman and CEO of Online Vacation Center Holdings Corp.
said, “This action demonstrates our commitment to returning cash to
our shareholders. The Board of Directors felt it was appropriate at
this time to issue a special dividend because of the strength of
our performance and our healthy cash balances. The Board, while not
committing to a regular dividend payment, will, however, consider
cash dividends in the future as circumstances warrant.”
About Online Vacation Center Holdings Corp.
Online Vacation Center Holdings Corp. is a Florida holding
company, focused on building a network of diversified vacation
marketing entities with a wide range of products that can be
cross-sold to an extensive customer base. The portfolio of Online
Vacation Center Holdings Corp. travel companies includes Online
Vacation Center, one of the country's largest cruise retailers;
Dunhill Travel Deals, a newsletter publisher with a circulation of
more than 3M travel enthusiasts; Enrichment Journeys, a cruise,
land, and tour operator; and Expedia CruiseShipCenters®, OVC, an
Expedia CruiseShipCenters® franchise hosting independent travel
consultants. The Company, based in Fort Lauderdale, Florida, has
been in business since 1972. Additional information can be found at
www.onlinevacationcenter.com/ir_home.cfm.
Online Vacation Center Holdings Corp.Edward B. Rudner,
954-377-6400investorrelations@onlinevacationcenter.comwww.onlinevacationcenter.com
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