- Board Declares Regular Dividend of $.02 per Common Share -
DENVER, May 19 /PRNewswire-FirstCall/ -- First Data Corp. (NYSE: FDC), a
global leader in electronic commerce and payment services, today announced its
share repurchase program has been increased by $2 billion. First Data's Board
of Directors approved the additional authorization at its regularly scheduled
Board meeting prior to the company's Annual Meeting of Shareholders. Since
1998, First Data has repurchased more than 180 million shares for $6.1 billion
under repurchase programs authorized by the company's board of directors.
Thus far, in the second quarter, the company has repurchased
7.2 million shares of stock for $320 million at an average price of $44.61.
As a result, the company has 2.017 billion remaining for repurchase following
approval of this new authorization.
Shareholders also approved the re-election of Chairman Charlie Fote and
three directors. Board members Ric Duques, Richard P. Kiphart and Joan E.
Spero were re-elected to three-year terms on the Board of Directors. Fote was
named chairman in 2003 and CEO in 2002. He was elected to the board in May
2000. Duques previously served as chairman and CEO from 1992 until 2002 and
has served on the board since April 1989. Spero joined the board in 1998, and
Kiphart joined in 2004.
In addition, the company declared a regular quarterly dividend of
$.02 per common share. The dividend is payable on July 12, 2004 to
shareholders of record at the close of business July 1, 2004. Shareholders
also approved the re-appointment of Ernst & Young as the company's independent
auditors.
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 3.5 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 more than 30,000 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(R) Network offers PIN-secured debit
acceptance at one million point-of-sale locations and 264,000 ATMs nationwide.
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, the Middle East and Germany.
Its Western Union and Orlandi Valuta money transfer networks include
approximately 188,000 agent locations in more than 195 countries and
territories. Visit http://www.firstdata.com for more information.
FDC-1
SOURCE First Data Corp.
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Related links:
http://www.firstdata.com
CONTACT:
Investor Relations, David Banks,
+1-303-967-8057, david.banks@firstdatacorp.com, or Media
Relations, Staci Busby, +1-303-967-7188,
staci.busby@firstdatacorp.com, both of First Data Corp.
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