2013-02-22 13:02:38 -
New York, NY - February 22, 2013 - Interpublic Group (NYSE: IPG) today announced
that its Board of Directors has declared a quarterly dividend on IPG common
stock of $0.075 per share, payable on March 25, 2013 to holders of record at the
close of business on March 11, 2013. The increase in the dividend from $0.06 to
$0.075 per share represents a 25% increase in the Company's quarterly dividend.
Additionally, the company's Board of Directors authorized a new program to
repurchase, from time to time, up to $300 million of IPG common stock. The
authorization under the new program is in addition to any amounts remaining for
repurchase under the program announced in 2012. Repurchases under the new
program may be effected through open market purchases, trading plans
in accordance with SEC rules, derivative transactions, or other means. The
timing and amount of repurchases under the authorization will depend on market
conditions and the company's other funding requirements. The share repurchase
program has no expiration date.
"In 2012, we continued to invest in the long-term growth needs of our company
while also implementing our dividend and stock repurchase plans," said Michael
I. Roth, Chairman and CEO of Interpublic Group. "By authorizing a 25% increase
in the dividend and a new $300 million share repurchase program, our Board is
demonstrating our company's ongoing commitment to returning appropriate levels
of capital to shareholders, as well as our confidence in the operating
trajectory of our business."
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Interpublic is one of the world's leading organizations of advertising agencies
and marketing services companies. Major global brands include Draftfcb,
FutureBrand, GolinHarris International, Huge, Initiative, Jack Morton Worldwide,
Lowe and Partners, MAGNAGLOBAL, McCann, Momentum, MRM Worldwide, Octagon, R/GA,
UM and Weber Shandwick. Leading domestic brands include Campbell Ewald;
Campbell Mithun; Carmichael Lynch; Deutsch, a Lowe and Partners Company; Gotham
Inc.; Hill Holliday; ID Media; Mullen and The Martin Agency. For more
information, please visit www.interpublic.com.
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Source: INTERPUBLIC GROUP OF COMPANIES, INC. via Thomson Reuters ONE