Mattel Announces Additional $500 Million Share Repurchase Authorization; Increase in 2010 Annual Dividend & Switch from Annua...
15 Novembro 2010 - 8:29PM
Business Wire
Mattel, Inc. (NASDAQ:MAT) announced today that the Mattel Board
of Directors has authorized the company to increase its previously
announced share repurchase program by an additional $500 million.
Repurchases will take place from time to time, depending on market
conditions.
The share repurchase program is one component of the company's
capital and investment framework, which was announced in February
2003. Under this program, Mattel has repurchased about 117 million
shares of common stock for an aggregate of approximately $2.3
billion.
Additionally, the company announced today that the Mattel Board
of Directors has approved the company’s common stock annual
dividend for 2010 of eighty-three cents per share, an increase over
the seventy-five cent annual dividend paid in 2009. The dividend
for 2010 is payable on December 16, 2010, to stockholders of record
on December 3, 2010.
Mattel's Board of Directors also has determined to switch from
paying dividends to stockholders on an annual basis to a quarterly
basis commencing in fiscal year 2011. Quarterly dividends are
expected to be announced at the same time Mattel announces
quarterly results.
"The increased annual dividend for 2010 and increase in Mattel's
share repurchase program demonstrates the Mattel Board of
Directors' commitment to returning excess funds to stockholders,"
said Robert A. Eckert, chairman and chief executive officer of
Mattel.
About Mattel
Mattel, Inc., (NASDAQ: MAT) (www.mattel.com) is the worldwide
leader in the design, manufacture and marketing of toys and family
products. The Mattel family is comprised of such best-selling
brands as Barbie®, the most popular fashion doll ever introduced,
Hot Wheels®, Matchbox®, American Girl®, Radica® and Tyco R/C®, as
well as Fisher-Price® brands, including Little People®, Power
Wheels® and a wide array of entertainment-inspired toy lines. In
2010, Mattel was named as one of FORTUNE Magazine's "100 Best
Companies to Work For" for the third year in a row, and was ranked
among Corporate Responsibility Magazine’s "100 Best Corporate
Citizens." Mattel also is recognized among the "World's Most
Ethical Companies." With worldwide headquarters in El Segundo,
Calif., Mattel employs approximately 27,000 people in 43 countries
and territories and sells products in more than 150 nations. At
Mattel, we are "Creating the Future of Play."
Note: This press release contains a forward-looking
statement relating to the switch from annual to quarterly
dividend payments commencing in 2011. This forward-looking
statement is based on currently available operating, financial,
economic and other information and is subject to a number of
significant risks and uncertainties. A variety of factors, many of
which are beyond our control, could cause actual future results to
differ materially from those projected in the forward looking
statement. Some of these factors are described in the Company's
periodic filings with the Securities and Exchange Commission,
including the "Risk Factors" section of Mattel's Annual Report on
Form 10-K for the fiscal year ended December 31, 2009 and Mattel's
Quarterly Reports on Form 10-Q for fiscal year 2010, as well as in
Mattel's other public statements. Mattel does not update
forward-looking statements and expressly disclaims any obligation
to do so.
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