ST. PETERSBURG, Fla., Sept. 1 /PRNewswire-FirstCall/ -- Catalina Marketing
Corporation (NYSE: POS) announced that its board of directors has authorized
$100 million of funds to be available for the repurchase of the company's
common stock. This authorization replaces the $44 million unused portion of
the $100 million repurchase program authorized by the board in July 2002. The
company last purchased shares in June 2003 and had not repurchased any shares
during the current fiscal year as it was precluded from doing so under its
previous bank credit facility. The credit facility was replaced on August 27,
2004 and the company is no longer under restrictions regarding the repurchase
of its common stock.
In addition, the company announced that its board of directors has
declared an annual cash dividend to shareholders of $0.30 per share. This is
the first time in the company's history that it will be paying a cash
dividend. The dividend will be paid on October 1, 2004 to shareholders of
record as of September 15, 2004.
Frederick W. Beinecke, Catalina's chairman of the board of directors and
chairman of the company's finance committee, commented, "The board of
directors' decision to declare a cash dividend and increase the level of
authority under the share repurchase program reflects our level of confidence
in Catalina's consistent ability to generate significant cash flows and
achieve ongoing strong financial performance. The dividend and share
repurchase authority are consistent with the company's strategy to focus on,
and enhance, the company's long-term value for its shareholders. We are
confident that the company will continue to have sufficient resources to
actively invest in strategic initiatives to drive future growth."
Based in St. Petersburg, FL, Catalina Marketing Corporation
(http://www.catalinamarketing.com ) was founded 20 years ago based on the
premise that targeting communications based on actual purchase behavior would
generate more effective consumer response. Today, Catalina Marketing combines
unparalleled insight into consumer behavior with dynamic consumer access. This
combination of insight and access provides marketers with the ability to
execute behavior-based marketing programs, ensuring that the right consumer
receives the right message at exactly the right time. Catalina Marketing
offers an array of behavior-based promotional messaging, loyalty programs and
direct-to-patient information. Personally identifiable data that may be
collected from the company's targeted marketing programs, as well as its
research programs, are never sold or given to any outside party without the
express permission of the consumer.
Certain statements in the preceding paragraphs are forward looking, and
actual results may differ materially. Statements not based on historic facts
involve risks and uncertainties, including, but not limited to, the changing
market for promotional activities, especially as it relates to policies and
programs of packaged goods and pharmaceutical manufacturers and retailers,
government and regulatory statutes, rules, regulations and policies, the
effect of economic and competitive conditions and seasonal variations, actual
promotional activities and programs with the company's customers, the pace of
installation of the company's store network, the success of new services and
businesses and the pace of their implementation, the company's ability to
maintain favorable client relationships, the timing of the completion of the
company's future SEC filings, the outcome and impact of an ongoing SEC
investigation into certain of the company's prior fiscal years, and the
outcome and impact of the pending shareholder class action and derivative
lawsuits.
SOURCE Catalina Marketing Corporation
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Related links:
http://www.catalinamarketing.com
CONTACT:
Investors, Christopher W. Wolf, Chief
Financial Officer, +1-727-579-5218, or Joanne Freiberger, Vice
President, Finance, +1-727-579-5116, or media, Susan Gear,
Executive Director, Marketing, +1-727-579-5452, all of Catalina
Marketing Corporation
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