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Harte-Hanks Board Declares Increased Regular Quarterly Dividend and Increases Stock Repurchase Program
SAN ANTONIO-(Business Wire)-January 29, 2008 - Harte-Hanks, Inc. (NYSE: HHS) today reported that its board of directors has declared an increased regular quarterly cash dividend of 7.5 cents per share payable on March 14, 2008, to the holders of record of shares of common stock of the company at the close of business on February 29, 2008. This represents a 7% increase in the previous quarterly dividend rate and is the thirteenth dividend increase since the company's 1993 IPO.
Harte-Hanks also announced that its board of directors has approved an increase in the company's existing stock repurchase program by up to an additional 12.5 million shares of the company's common stock. If the entire additional authorized amount is repurchased, it would represent approximately 18% of the company's outstanding shares of common stock as of January 15, 2008. The additional authorized shares bring the total remaining authorization under the company's repurchase program as of January 15, 2008, to approximately 15.2 million shares. The stock repurchases may, at the discretion of company management, be made from time to time in the open market or through privately negotiated transactions, depending upon financial and market conditions, limitations under applicable rules and other factors.
About Harte-Hanks
Harte-Hanks is a worldwide, direct and targeted marketing company that provides direct marketing services and shopper advertising opportunities to local, regional, national and international consumer and business-to-business marketers. Harte-Hanks Direct Marketing improves return on its clients' marketing investment by increasing their prospect and customer value through solutions and services organized around five groupings of integrated activities: Information (data collection/management) — Opportunity (data access/utilization) — Insight (data analysis/interpretation) — Engagement (program and campaign creation and development) — Interaction (program execution). Harte-Hanks Shoppers is North America's largest owner, operator and distributor of shopper publications, with shoppers that are zoned into more than 1,000 separate editions with approximately 13 million circulation each week in California and Florida. PennySaverUSA.com, the Web site of Harte-Hanks Shoppers, displays the ads published in the print versions of the PennySaverUSA.com and TheFlyer.com publications, and is a leader in the aggregation of online classified ads from free community papers and shoppers across the country. Visit the Harte-Hanks Web site at http://www.harte-hanks.com or call 800-456-9748.
For more information, contact Dean Blythe, President, at 210-829-9138 or e-mail at dblythe@harte-hanks.com.
Cautionary Note Regarding Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of the federal securities laws, including statements regarding our stock repurchase program. All such statements are qualified by this cautionary note, which is provided pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. We cannot assure you whether, or when, we will repurchase shares in the future under our stock repurchase program. These forward-looking statements involve risks, uncertainties, assumptions and other factors that are difficult to predict and that could cause actual results to vary materially from what is expressed in or indicated by the forward-looking statements, including financial and market conditions, availability and competing uses of proceeds for any repurchases, limitations imposed by applicable regulations, and other factors discussed under "Item 1A. Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2006, and any updates thereto in our Forms 10-Q. The forward-looking statements in this press release are made only as of the date hereof and we undertake no obligation to update publicly any forward-looking statement, even if new information becomes available or other events occur in the future.
