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EQUIFAX BOARD RAISES SHARE REPURCHASE AMOUNT BY $250 MILLION;
DECLARES REGULAR QUARTERLY DIVIDEND
Contact:
Marietta Edmunds Zakas
Corp. VP, Communications
404-885-8304 (o)
ATLANTA, January 28, 1999 -- The Equifax Board of Directors has authorized an increase in the amount of corporate funds available for the repurchase of Equifax shares by $250 million. The Board also approved a regular quarterly dividend of 9 cents per share at the regular quarterly meeting of the Board of Directors at Equifax headquarters yesterday afternoon.
The $250 million increase brings the total funds available for stock repurchase to approximately $275 million. Equifax has purchased $773 million worth of its stock on the open market, during the past seven years, at an average purchase price of $18.62, an excellent investment for shareholders. The company purchased a total of $162 million in Equifax stock in 1998.
Thomas F. Chapman, president and CEO, said, "Equifax believes in an active stock repurchase program. This latest authorization represents the continuation of a financial strategy adopted in 1992, that has significantly increased shareholder value."
The regular quarterly dividend of 9 cents per share is payable on March 15, 1999, to shareholders of record February 22, 1999. Dividends have increased 18 out of the past 19 years, and Equifax has paid cash dividends for 85 consecutive years.
EQUIFAX (NYSE: EFX) is a worldwide leader in shaping global commerce by bringing buyers and sellers together through its information, transaction processing, consulting and knowledge-based businesses. Equifax serves the banking, financial, retail, credit card, telecommunications/utilities, transportation and healthcare industries and government. Founded in 1899, Atlanta-based Equifax today has 14,000 employees in 18 countries and sales in more than 45 countries. Revenues for the year ended December 31, 1998, were more than $1.6 billion. For more Equifax information, visit the company's Internet web site at www.equifax.com.
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Statements in this News release that relate to future plans, objectives, expectations, performance, events and the like are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and the Securities Exchange Act of 1934. Future events, risks and uncertainties, individually or in the aggregate, could cause actual results to differ materially from those exNewsed or implied in these statements. Those factors could include worldwide and U.S. economic conditions, changes in demand for the company’s products and services, risks associated with the integration of acquisitions and other investments, and other factors discussed in the "forward-looking information" section in the management’s discussion and analysis included in the company’s annual report on Form 10-K for the year ended December 31, 1997, and in the "Year 2000 Information" section in the company’s quarterly report on Form 10Q for the period ended September 30, 1998.
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