Deluxe Corporation Increases Dividend by 20%
ST. PAUL, Minn.--(BUSINESS WIRE)-- (NYSE: DLX) The Board of Directors of Deluxe Corporation declared a regular quarterly dividend of $0.30 per share on the company’s outstanding common stock. This is a $0.05 per share increase from the level paid quarterly since mid-2006.
“The dividend increase approved by the board is not only the result of the company’s strong operating performance but also reflects the confidence we have in our ability to grow earnings and cash flow over the long-term,” said Terry Peterson, Deluxe’s Chief Financial Officer. “Our capital allocation strategy continues to represent a balanced approach of investing in our organic and acquisitive growth initiatives, returning capital to shareholders through dividends and repurchases and maintaining a strong balance sheet. Today’s announcement reflects our continued commitment to deliver on that capital allocation strategy.”
The dividend will be payable on June 2, 2014 to shareholders of record at the close of business on May 19, 2014.
About Deluxe Corporation
Deluxe is a growth engine for small
businesses and financial institutions. Over four and a half million
small business customers access Deluxe’s wide range of products and
services including customized checks and forms, as well as web-site
development and hosting, search engine marketing, search engine
optimization, and logo design. For financial institutions, Deluxe
offers industry-leading programs in checks, customer acquisition and
loyalty, fraud prevention and profitability. Deluxe is also a leading
printer of checks and accessories sold directly to consumers. For more
information, visit us at www.deluxe.com,
www.facebook.com/deluxecorp or
www.twitter.com/deluxecorp.
Forward-Looking Statements
Statements made in this release
concerning the Company’s or management’s intentions, expectations,
outlook or predictions about future results or events are
“forward-looking statements” within the meaning of the Private
Securities Litigation Reform Act of 1995. Such statements reflect
management’s current expectations or beliefs, and are subject to risks
and uncertainties that could cause actual results or events to vary from
stated expectations, which variations could be material and adverse.
Factors that could produce such a variation include, but are not limited
to, the following: the impact that a deterioration or prolonged softness
in the economy may have on demand for the Company’s products and
services; the inherent unreliability of earnings, revenue and cash flow
predictions due to numerous factors, many of which are beyond the
Company’s control; declining demand for the Company’s check and
check-related products and services due to increasing use of alternative
payment methods; intense competition in the check printing business;
continued consolidation of financial institutions and/or additional bank
failures, thereby reducing the number of potential customers and
referral sources and increasing downward pressure on the Company’s
revenue and gross margin; risks that the Small Business Services segment
strategies to increase its pace of new customer acquisition and average
annual sales to existing customers, while at the same time maintaining
its operating margins, are delayed or unsuccessful; risks that the
Company’s recent acquisitions do not produce the anticipated results or
revenue synergies; risks that the Company’s cost reduction initiatives
will be delayed or unsuccessful; performance shortfalls by the Company’s
major suppliers, licensors or service providers; unanticipated delays,
costs and expenses in the development and marketing of new products and
services, including web design, hosting, email marketing, logo design,
search engine marketing, search engine optimization, digital printing
services, fraud protection services, profitability, risk management
services, and other services; the failure of such newer products and
services to deliver the expected revenues and other financial targets;
and the impact of governmental laws and regulations. The Company’s cash
dividends are declared by the Board of Directors on a current basis and
therefore may be subject to change. Our forward-looking statements speak
only as of the time made, and we assume no obligation to publicly update
any such statements. Additional information concerning these and other
factors that could cause actual results and events to differ materially
from the Company’s current expectations are contained in the Company’s
Form 10-K for the year ended December 31, 2013.
Deluxe Corporation
Edward Merritt, 651-787-1370
Treasurer
and VP Investor Relations
Source: Deluxe Corporation
Released April 29, 2014