Solera Holdings, Inc. Increases Quarterly Dividend By 36%; Further Increases Return Of Capital To Stockholders
WESTLAKE, Texas, Aug. 2, 2013 /PRNewswire/ -- Solera Holdings, Inc. (NYSE: SLH), the leading global provider of software and services to the automobile insurance claims processing industry, today announced that its Board of Directors has approved a 36% increase of its quarterly dividend per share of outstanding common stock and per outstanding restricted stock unit. The increase will be effective for Solera's fiscal year 2014 and translates into an annual rate of $0.68 cents per share of outstanding common stock and per outstanding restricted stock unit, up from Solera's fiscal 2013 annual rate of $0.50.
"I'm pleased to announce this fourth consecutive annual increase in our quarterly dividend since our initiation of dividends for fiscal year 2010. This increase is consistent with our policy of returning cash to stockholders via dividends and our stock repurchase program," said Tony Aquila, founder, Chairman and CEO of Solera Holdings, Inc. "This action reflects the confidence we have in the long-term growth of our business and our ability to generate strong cash flow for reinvesting while returning cash to stockholders."
Solera is the leading global provider of software and services to the automobile insurance claims processing industry. Solera is active in over 60 countries across six continents. The Solera companies include Audatex in the United States, Canada, and in more than 45 additional countries, Informex in Belgium and Greece, Sidexa in France, ABZ and Market Scan in the Netherlands, HPI in the United Kingdom, Hollander serving the North American recycling market, AUTOonline providing salvage disposition in a number of European and Latin American countries, IMS providing medical review services, and Explore providing data and analytics to United States property and casualty insurers. For more information, please refer to the company's website at http://www.solerainc.com.
Cautions about Forward-Looking Statements
This press release contains forward-looking statements, including statements about: our enhancements and commitment to and confidence about our stockholder returns; Mission 2020; our long-term growth and cash generation capabilities; and statements about dividends, our stock repurchase program and historical results or performance that may suggest trends for our business. These statements are based on our current expectations, estimates and assumptions and are subject to many risks, uncertainties and unknown future events that could cause actual results to differ materially. Actual results may differ materially from those set forth in this press release due to the risks and uncertainties inherent in our business, including, without limitation: limitations on our ability to pay dividends and/or repurchase shares of our common stock in future periods, including restrictive covenants in our debt instruments and our future financial performance; use of cash to service our debt; risks associated with the uncertainty in and volatility of global economic conditions; unpredictability and volatility of our operating results, which include the volatility associated with foreign currency exchange risks, our sales cycle, seasonality and other factors; our reliance on a limited number of customers for a substantial portion of our revenues; risks associated with and possible negative consequences of acquisitions, joint ventures, divestitures and similar transactions, including our ability to successfully integrate our acquired businesses; effects of competition on our software and service pricing and our business; time and expenses associated with customers switching from competitive software and services to our software and services; rapid technology changes in our industry; our ability to obtain additional financing as necessary to support our operations; the financial impact of future significant restructuring and severance charges; the impact of changes in our tax provision (benefit) or effective tax rate; and any material adverse impact of current or future litigation on our results or business. For a discussion of these and other factors that could impact our ability to continue to pay dividends, our ability continue to repurchase shares of our common stock, our operations or our financial results and cause our results to differ materially from those in the forward-looking statements, please refer to our filings with the Securities and Exchange Commission, particularly our Quarterly Report on Form 10-Q for the Quarter Ended March 31, 2013. Solera is under no obligation to (and specifically disclaims any such obligation to) update or alter its forward-looking statements whether as a result of new information, future events or otherwise.
SOURCE Solera Holdings, Inc.