Jack Henry & Associates Increases The Quarterly Dividend On Its Common Stock By 54 Percent To $.20 Per Share And Adds Five Million Shares To Stock Repurchase Authorization
MONETT, Mo., May 6, 2013 /PRNewswire/ -- Jack Henry & Associates, Inc. (NASDAQ:JKHY) today announced its Board of Directors increased the quarterly cash dividend by fifty-four percent (54%) to $.20 per share. The cash dividend on its common stock, par value $.01 per share, is payable on May 30, 2013, to stockholders of record as of May 17, 2013. At April 30, 2013, there were 86,112,301 shares of the common stock outstanding.
Its Board of Directors also increased the remaining 4.14 million share stock repurchase authorization by another 5.0 million shares, bringing the total current authorization to 9.14 million shares. In October of 2002, the Board of Directors approved the current buyback program which has been increased incrementally since that time as shares have been repurchased. The company will finance its share repurchases with available cash reserves or short-term borrowings on its existing credit facility. All transactions will be executed in accordance with regulatory and exchange guidelines. The share repurchase program does not include specific price targets or timetables and may be suspended at any time.
Jack Prim, CEO of Jack Henry & Associates, stated, "Our company continues to have strong organic growth and increasing cash flow, even with our increased internal research and development initiatives. This increase in our dividend and share repurchase authorization evidences our confidence that these trends will continue and our commitment to deploy our cash to the benefit of our shareholders."
About Jack Henry & Associates, Inc.
Jack Henry & Associates, Inc.® (NASDAQ: JKHY) is a leading provider of computer systems and electronic payment solutions primarily for financial services organizations. Its technology solutions serve more than 11,600 customers nationwide, and are marketed and supported through three primary brands. Jack Henry Banking® supports banks ranging from community to mid-tier institutions with information processing solutions. Symitar® is the leading provider of information processing solutions for credit unions of all sizes. ProfitStars® provides best-of-breed solutions that enhance the performance of domestic and international financial institutions of all asset sizes and charters using any core processing system, as well as diverse corporate entities. Additional information is available at www.jackhenry.com.
SOURCE Jack Henry & Associates, Inc.
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