Catalina Marketing Elects Robert Tobin to Board of Directors and Announces $100 Million Stock Repurchase Authorization
August 11 2005 - 7:45AM
PR Newswire (US)
SAINT PETERSBURG, Fla., Aug. 11 /PRNewswire-FirstCall/ -- Catalina
Marketing Corporation (NYSE:POS) announced today that Robert G.
Tobin, 67, has been elected to its board of directors. Mr. Tobin
was the Chief Executive Officer of Ahold USA from 1998 until his
retirement in 2001, and served as the Interim Chief Executive
Officer of U.S. Foodservice for six months during 2003. Prior to
his position as CEO of Ahold USA, Mr. Tobin was the Chairman and
Chief Executive Officer of Stop & Shop Supermarkets from 1993
until 1998. Mr. Tobin also currently serves as a director of Landec
Corporation. Commenting on the announcement, Frederick W. Beinecke,
Catalina's chairman of the board of directors, said, "We are
extremely pleased to have Bob as a board member. His depth of
experience drawn from a career in the retail environment and the
consumer packaged goods industry will be an asset to our board."
The company also announced that its board of directors has
authorized $100 million of funds to be available for the repurchase
of the company's common stock. The company has completed the
execution of the $100 million repurchase program authorized by the
board in September 2004. The company repurchased 3,917,100 shares
for a total of $100 million, including 2,265,000 shares for $55.8
million in the current fiscal year pursuant to the September 2004
authorization. In addition, the company announced that its board of
directors has declared a second annual cash dividend to
shareholders of $0.30 per share. The dividend will be paid on
October 3, 2005 to shareholders of record as of September 19, 2005.
Mr. Beinecke commented, "We are pleased with the company
management's execution of the September 2004 $100 million share
repurchase program. The board of directors' decision to pay a
second annual cash dividend and authorize another $100 million
share repurchase program reflects the company's strong cash flow
and liquidity position, and our focus on enhancing the company's
long-term value for its shareholders. Even with these programs, we
are confident that the company will continue to have sufficient
resources to invest actively in strategic initiatives to drive
future growth." Based in St. Petersburg, FL, Catalina Marketing
Corporation ( http://www.catalinamarketing.com/ ) was founded 20
years ago based on the premise that targeting communications based
on actual purchase behavior would generate more effective consumer
response. Today, Catalina Marketing combines unparalleled insight
into consumer behavior with dynamic consumer access. This
combination of insight and access provides marketers with the
ability to execute behavior-based marketing programs, ensuring that
the right consumer receives the right message at exactly the right
time. Catalina Marketing offers an array of behavior-based
promotional messaging, loyalty programs and direct-to-patient
information. Personally identifiable data that may be collected
from the company's targeted marketing programs, as well as its
research programs, are never sold or provided to any outside party
without the express permission of the consumer. Certain statements
in the preceding paragraphs are forward-looking, and actual results
may differ materially. Statements not based on historic facts
involve risks and uncertainties, including, but not limited to, the
changing market for promotional activities, especially as it
relates to policies and programs of packaged goods and
pharmaceutical manufacturers and retailers, government and
regulatory statutes, rules, regulations and policies, the effect of
economic and competitive conditions and seasonal variations, actual
promotional activities and programs with the company's customers,
the pace of installation of the company's store network, the
success of new services and businesses and the pace of their
implementation, the company's ability to maintain favorable client
relationships, the outcome and impact of an ongoing SEC
investigation into certain of the company's prior fiscal years, and
the outcome and impact of the pending shareholder class action and
derivative lawsuits. DATASOURCE: Catalina Marketing Corporation
CONTACT: Investors, Rick Frier, Executive Vice President and Chief
Financial Officer, +1-727-579-5147, or Joanne Freiberger, Vice
President, Finance, +1-727-579-5116, or Media, Crystal Coovert,
Executive Director, Corporate Communications, +1-727-579-5129, all
of Catalina Marketing Web site: http://www.catalinamarketing.com/
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