ST. LOUIS, Nov. 15, 2010 /PRNewswire-FirstCall/ -- CPI Corp.
(NYSE: CPY) today announced that its Board of Directors declared a
fourth quarter cash dividend of 25
cents per share. The dividend will be paid on
December 6, 2010 to shareholders of
record as of November 29, 2010.
As of November 12, 2010, CPI
had 7,308,865 common shares outstanding.
About CPI Corp.
Headquartered in St. Louis,
Missouri, CPI Corp. (NYSE: CPY) provides portrait
photography services at approximately 3,000 locations in
North America, principally in
Sears, Walmart and Babies "R" Us stores.
Forward-Looking Statements
The statements contained in this press release that are not
historical facts are forward-looking statements within the meaning
of the Private Securities Litigation Reform Act of 1995, and
involve risks and uncertainties. The Company identifies
forward-looking statements by using words such as "preliminary, "
"plan," "expect," looking ahead," "anticipate," "estimate,"
"believe," "should," "intend" and other similar expressions.
Management wishes to caution the reader that these
forward-looking statements, such as the Company's outlook for
portrait studios, net income, future cash requirements, cost
savings, compliance with debt covenants, valuation allowances,
reserves for charges and impairments and capital expenditures, are
only predictions or expectations; actual events or results may
differ materially as a result of risks facing the Company.
Such risks include, but are not limited to: the Company's
dependence on Sears, Walmart and Toys "R" Us, the approval of the
Company's business practices and operations by Sears, Walmart and
Toys "R" Us, the termination, breach, limitation or increase of the
Company's expenses by Sears and Toys "R" Us under the license
agreements, or Walmart under the lease and license agreements,
customer demand for the Company's products and services, the
economic recession and resulting decrease in consumer spending,
manufacturing interruptions, dependence on certain suppliers,
competition, dependence on key personnel, fluctuations in operating
results, a significant increase in piracy of the Company's
photographs, widespread equipment failure, compliance with debt
covenants, high level of indebtedness, implementation of marketing
and operation strategies, outcome of litigation and other claims,
impact of declines in global equity markets to pension plan and
impact of foreign currency translation. The risks described
above do not include events that the company does not currently
anticipate or that it currently deems immaterial, which may also
affect its results of operations and financial condition. The
Company undertakes no obligation to update or revise publicly any
forward-looking statements, whether as a result of new information,
future events or otherwise.
SOURCE CPI Corp.