Renaissance Learning (NASDAQ:RLRN)
Historical Stock Chart
From Jul 2019 to Jul 2024
![Click Here for more Renaissance Learning Charts. Click Here for more Renaissance Learning Charts.](/p.php?pid=staticchart&s=N%5ERLRN&p=8&t=15)
Renaissance Learning(TM), Inc. Increases Quarterly Cash Dividend
25%; Authorizes Additional Stock Re-purchases
WISCONSIN RAPIDS, Wis., Feb. 10 /PRNewswire-FirstCall/ -- Renaissance
Learning(TM), Inc. (NASDAQ:RLRN), a leading provider of learning information
systems and school improvement programs for pre-K-12 schools, announced that
its board of directors increased the quarterly cash dividend by 25%, from $.04
per share to $.05 per share. The cash dividend of $.05 per share is payable
March 11, 2005 to shareholders of record as of February 25, 2005. The board
also authorized an additional three million shares under the stock re-purchase
program.
(Logo: http://www.newscom.com/cgi-bin/prnh/20001108/RENAISSANCELOGO )
"We believe our current initiatives to accelerate learning have positioned us
for growth," said John Hickey, president and chief executive officer of
Renaissance Learning. "The board's actions are a reflection of our confidence
in the company's future and its overall financial strength."
The company has re-purchased 4.3 million shares of stock under the prior
authorization of 5 million shares. With the authorization of 3 million shares,
the company may repurchase an additional 3.7 million shares through a variety
of methods, including open market purchases, block transactions, privately
negotiated transactions, accelerated share repurchase programs, or other
similar facilities. Such purchases may be made from time to time and may be
discontinued at any time. No time limit was placed on the duration of the
repurchase program. Repurchased shares will be used for stock-based employee
benefit plans and for other general corporate purposes. The amount and timing
of any share repurchases will be based on management's ongoing assessment of
the Company's capital structure, liquidity, general market conditions and other
corporate considerations.
Renaissance Learning(R), Inc.
Renaissance Learning, Inc. is a leading provider of research-based learning
information systems software, school improvement programs, teacher training and
consulting. Adopted by more than 67,000 schools, Renaissance information
technology products give students and teachers continuous constructive feedback
that helps motivate students, dramatically accelerate learning, improve test
scores, and help students master all standards, while reducing teacher
paperwork. Renaissance Learning has six U.S. locations and subsidiaries in
Australia, Canada, India, and the United Kingdom.
This press release contains forward-looking statements made pursuant to the
safe harbor provision of the Private Securities Litigation Reform Act of 1995,
including statements regarding the Company's growth prospects. Any such
forward-looking statements may involve risk and uncertainties that could cause
actual results to differ materially from any future results encompassed within
the forward-looking statements. Factors that could cause or contribute to such
differences include risks affecting the Company's business as described in the
Company's filings with the Securities and Exchange Commission, including the
Company's 2003 Annual Report on Form 10-K and later filed Quarterly Reports on
Form 10-Q, and Current Reports on Form 8-K, which factors are incorporated
herein by reference. The Company expressly disclaims a duty to provide updates
to forward-looking statements, whether as a result of new information, future
events or other occurrences.
http://www.newscom.com/cgi-bin/prnh/20001108/RENAISSANCELOGO
http://photoarchive.ap.org/
DATASOURCE: Renaissance Learning, Inc.
CONTACT: Julie Blystone of Renaissance Learning, Inc., +1-800-200-4848,
or fax, +1-608-664-3882,
Web site: http://www.renlearn.com/