Interpublic Increases Common Stock Dividend by 25% and Announces New $300 Million Share Repurchase Program
New York, NY - February 12, 2016 - Interpublic Group (NYSE: IPG) today announced that the company's Board of Directors has declared a quarterly dividend on IPG common stock of $0.15 per share, payable on March 15, 2016 to holders of record at the close of business on March 1, 2016. The increase in the dividend from $0.12 to $0.15 per share represents a 25% increase in 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 2015. 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, "These actions build on a sustained capital return program that IPG initiated in 2011. Since that time, we have returned a total of $2.5 billion to shareholders through a combination of dividends and share repurchase, and reduced our outstanding shares eligible for dilution by over 25%. Today's announcement demonstrates our continued confidence in the financial and operational strength of IPG."
# # #
About Interpublic
Interpublic is one of the world's leading organizations of advertising agencies and marketing services companies. Major global brands include BPN, Craft, FCB (Foote, Cone & Belding), FutureBrand, Golin, Huge, Initiative, Jack Morton Worldwide, MAGNA GLOBAL, 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.
# # #
Contact Information
Tom Cunningham
(Press)
(212) 704-1326
Jerry Leshne
(Analysts, Investors)
(212) 704-1439