Interpublic Increases Common Stock Dividend for Tenth Consecutive Year and Resumes Share Repurchase Program
New York, NY, Feb. 10, 2022 (GLOBE NEWSWIRE) -- Interpublic Group (NYSE: IPG) today announced that the company’s Board of Directors has declared a quarterly dividend on IPG common stock of $0.29 per share, payable on March 15, 2022, to holders of record at the close of business on March 1, 2022. The increase in the dividend from $0.27 to $0.29 per share represents a seven percent increase to the Company’s quarterly dividend.
Additionally, the company's Board of Directors authorized a resumption of the company’s share repurchase program. Under the reauthorized program, the company may repurchase, from time to time, up to $400 million of IPG common stock. 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.
Philippe Krakowsky, CEO of IPG, commented, “We are very pleased to announce our company’s tenth consecutive year of higher dividends, which have continued through the period of the COVID pandemic, and the resumption of our share repurchase program. These actions reflect the continuing strength of our operating results. We had suspended share repurchases following our announcement of the Acxiom transaction in 2018 as we focused more of our resources on financial deleveraging. As we resume our share repurchase program, we plan to continue our commitment to operating in a manner that will maintain and enhance our balance sheet and financial flexibility.”
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Interpublic (NYSE: IPG) (www.interpublic.com) is a values-based, data-fueled, and creatively-driven provider of marketing solutions. Home to some of the world’s best-known and most innovative communications specialists, IPG global brands include Acxiom, Craft, FCB, FutureBrand, Golin, Huge, Initiative, Jack Morton, Kinesso, MAGNA, Matterkind, McCann, Mediahub, Momentum, MRM, MullenLowe Group, Octagon, R/GA, UM, Weber Shandwick and more. IPG is an S&P 500 company with net revenue of $9.11 billion in 2021.
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