EL SEGUNDO, Calif., Nov. 18 /PRNewswire-FirstCall/ -- Mattel, Inc.
(NYSE: MAT) announced today that the Mattel Board of Directors has authorized
the company to increase its previously announced share repurchase program by
an additional $250 million. Repurchases will take place from time to time,
depending on market conditions.
Additionally, the company announced today that the Mattel Board of
Directors has approved an increase in the company's common stock annual
dividend for 2005 to fifty cents per share. The previous annual dividend rate
was forty-five cents per share. The dividend is payable on December 16, 2005,
to shareholders of record on December 2, 2005.
About Mattel
Mattel, Inc. (NYSE: MAT) is the worldwide leader in the design,
manufacture and marketing of toys and family products. The company's
best-selling brands include Barbie(R), Hot Wheels(R), Fisher-Price(R) and
American Girl(R). With headquarters in El Segundo, California, Mattel has
offices and facilities in 42 countries and sells its product in more than 150
nations throughout the world. The company's corporate website is located at
http://www.mattel.com.
Note: Forward-looking statements with respect to the financial condition,
results of operations and business of the company are subject to certain risks
and uncertainties that could cause actual results to differ materially from
those set forth in such statements. These include without limitation: the
company's dependence on the timely development, manufacture, introduction and
customer acceptance of new products; the seasonality of the toy business;
customer concentration and pricing; significant changes in buying and payment
patterns of major customers, including as a result of bankruptcy and store
closures; adverse changes in general economic conditions in the U.S. and
internationally, including adverse changes in the retail environment,
employment and the stock market; order predictability and supply chain
management; the impact of competition, including from private label toys, on
revenues and margins; the supply and cost of raw materials (including oil and
resin prices), components, employee benefits and various services; the effect
of currency exchange rate fluctuations on reportable income; risks associated
with acquisitions and mergers; the possibility of product recalls and related
costs; risks associated with foreign operations; negative results of
litigation, governmental proceedings or environmental matters; possible work
stoppages, slowdowns or strikes; possible outbreaks of SARS, avian flu or
other diseases; political developments and the threat or occurrence of war or
terrorist acts; the possibility of catastrophic events; the inherent risk of
new initiatives and other risks and uncertainties as may be detailed from time
to time in the company's public announcements and SEC filings. This release
contains forward-looking statements about anticipated share repurchases and
the timing of such repurchases. Mattel does not update forward-looking
statements and expressly disclaims any obligation to do so.
SOURCE Mattel, Inc.
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Related links:
http://www.mattel.com
Company News On-Call:
http://www.prnewswire.com/comp/540363.html
CONTACT:
News Media, Lisa Marie Bongiovanni,
+1-310-252-3524, LisaMarie.Bongiovanni@mattel.com, or Securities
Analysts Joleen Jackson, +1-310-252-2702,
Joleen.Jackson@mattel.com, both of Mattel, Inc.
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