DENVER, Feb. 24 /PRNewswire-FirstCall/ -- First Data Corp. (NYSE: FDC) a
global leader in electronic commerce and payment services, today announced
that its share repurchase program is being increased by $2 billion. Added to
the company's existing authorization, the additional authorization now enables
First Data to re-purchase approximately $2.32 billion of its stock.
The company intends to use the funds from this new authorization to
re-purchase shares over the next 24 months. Consistent with past practices,
purchases will be made in the open market based on market conditions, business
opportunities and other factors.
Thus far, in the first quarter of 2005, First Data has re-purchased
14.4 million shares for $584 million at an average price of $40.67.
In addition, the company raised its quarterly dividend to $0.06 per common
share, triple the previous level of $0.02 per share. The dividend is payable
on April 11, 2005, to shareholders of record on April 1, 2005.
"First Data has very strong, predictable cash flows," said Charlie Fote,
First Data chairman and CEO. "This new buyback -- coupled with the
significant increase in our dividend -- allows us to return a large portion of
our cash flow to investors, while retaining flexibility with the balance of
our free cash."
About First Data
First Data Corp. (NYSE: FDC), with global headquarters in Denver, helps
power the global economy. As a leader in electronic commerce and payment
services, First Data serves approximately 4.1 million merchant locations,
1,400 card issuers and millions of consumers, making it easy, fast and secure
for people and businesses around the world to buy goods and services using
virtually any form of payment. With approximately 32,000 employees worldwide,
the company provides credit, debit, private-label, smart and stored-value card
issuing and merchant transaction processing services; Internet commerce
solutions; money transfer services; money orders; and check guarantee and
verification services. The STAR Network offers PIN-secured debit acceptance
at 1.4 million ATM and retail locations. First Data also offers a variety of
payment services to businesses around the world including those in the United
Kingdom, Australia, Canada, Japan, Mexico, Spain, Panama, Brazil, China, the
Netherlands, Greece, the Middle East and Germany. Its Western Union and
Orlandi Valuta money transfer networks include approximately 220,000 agent
locations in more than 195 countries and territories. Visit http://www.firstdata.com
for more information.
FDC-1
SOURCE First Data Corp.
 back to top
Related links:
http://www.firstdata.com
CONTACT:
David Banks, Investor Relations,
+1-303-967-8057, or Nancy Etheredge, Media, +1-402-222-6214, both
of First Data Corp.
|
