Catalina (NYSE:POS)
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Catalina Marketing Increases Stock Repurchase Authorization to
$100 Million and Declares First Cash Dividend
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.
DATASOURCE: Catalina Marketing Corporation
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
Web site: http://www.catalinamarketing.com/