- Interpublic Group to Present at the Deutsche Bank 26th Annual Media, Telecom & Business Services Conference Mar 01, 2018
- IPG Publishes Third Global Reporting Initiative (GRI) Report Feb 27, 2018
- IPG Black Employee Network Hosts Black Panther Screening Feb 26, 2018
- Interpublic Group to Present at the 2018 Morgan Stanley Technology, Media & Telecom Conference Feb 22, 2018
- IPG Leads Industry in Ad Age A-List Honors Feb 20, 2018
- Interpublic Increases Common Stock Dividend by 17% and Announces New $300 Million Share Repurchase Program Feb 14, 2018
- Interpublic Announces Full Year and Fourth Quarter 2017 Results Feb 14, 2018
- Interpublic Schedules Fourth Quarter & Full Year 2017 Earnings Release Jan 19, 2018
Interpublic Increases Common Stock Dividend by 17% and Announces New $300 Million Share Repurchase Program
(GLOBE NEWSWIRE via COMTEX) --New York, NY - February 14, 2018 - Interpublic Group (NYSE: IPG) today announced that the company's Board of Directors has declared a quarterly dividend on IPG common stock of $0.21 per share, payable on March 15, 2018 to holders of record at the close of business on March 1, 2018. The increase in the dividend from $0.18 to $0.21 per share represents a 17% percentage increase to the Company's quarterly dividend.
Additionally, the company's Board of Directors authorized a new program to repurchase, from time to time, up to $300 million of IPG common stock. The authorization under the new program is in addition to any amounts remaining for repurchase under the program announced in 2017. Repurchases under the new program may be effected through open market purchases, trading plans established in accordance with SEC rules, derivative transactions, or other means. The timing and amount of repurchases under the authorization will depend on market conditions and the company's other funding requirements. The share repurchase program has no expiration date.
Michael I. Roth, Chairman and CEO of Interpublic Group commented, "Since initiating our capital-return programs in 2011, we have returned a total of $3.6 billion to shareholders through a combination of common share dividends and repurchases, and we have reduced our outstanding shares eligible for dilution by 30%. Further, this marks our sixth consecutive year of double-digit percentage increases to the dividend. Together, these actions reflect our continuing operating success in recent years, IPG's substantial financial strength, and significant confidence in our future prospects."
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Interpublic is one of the world's leading organizations of advertising agencies and marketing services companies. Major global brands include Craft, FCB (Foote, Cone & Belding), FutureBrand, Golin, Huge, Initiative, Jack Morton Worldwide, MAGNA, McCann, Momentum, MRM//McCann, MullenLowe Group, Octagon, R/GA, UM and Weber Shandwick. Other leading brands include Avrett Free Ginsberg, Campbell Ewald, Carmichael Lynch, Deutsch, Hill Holliday, ID Media and The Martin Agency. For more information, please visit www.interpublic.com.
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The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: INTERPUBLIC GROUP OF COMPANIES, INC. via Globenewswire