Interpublic Increases Common Stock Dividend by 25% and Announces New $300 Million Share Repurchase Program
New York, NY - February 22, 2013 - Interpublic Group (NYSE: IPG) today announced that its Board of Directors has declared a quarterly dividend on IPG common stock of $0.075 per share, payable on March 25, 2013 to holders of record at the close of business on March 11, 2013. The increase in the dividend from $0.06 to $0.075 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 2012. 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.
"In 2012, we continued to invest in the long-term growth needs of our company while also implementing our dividend and stock repurchase plans," said Michael I. Roth, Chairman and CEO of Interpublic Group. "By authorizing a 25% increase in the dividend and a new $300 million share repurchase program, our Board is demonstrating our company's ongoing commitment to returning appropriate levels of capital to shareholders, as well as our confidence in the operating trajectory of our business."
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About Interpublic
Interpublic is one of the world's leading organizations of advertising agencies and marketing services companies. Major global brands include Draftfcb, FutureBrand, GolinHarris International, Huge, Initiative, Jack Morton Worldwide, Lowe and Partners, MAGNAGLOBAL, McCann, Momentum, MRM Worldwide, Octagon, R/GA, UM and Weber Shandwick. Leading domestic brands include Campbell Ewald; Campbell Mithun; Carmichael Lynch; Deutsch, a Lowe and Partners Company; Gotham Inc.; Hill Holliday; ID Media; Mullen and The Martin Agency. For more information, please visit www.interpublic.com.
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Contact Information
Tom Cunningham
(Press)
(212) 704-1326
Jerry Leshne
(Analysts, Investors)
(212) 704-1439