Xerox Declares First Common Stock Dividend in Six Years
NORWALK, Conn.- Xerox Corporation’s (NYSE: XRX) board of directors declared a quarterly cash dividend on Xerox common stock. The dividend of $0.0425 per common share is the first in more than six years.
“With our return to investment grade, strong cash generation and effective business model, we’ve significantly strengthened our financial position, providing flexibility for investing in our business and delivering shareholder returns,” said Anne M. Mulcahy, Xerox chairman and chief executive officer. “Declaring a dividend and our continued share repurchase initiatives reflect the health of our business and our belief in the long-term value we’re creating for Xerox shareholders.”
The dividend will be payable on Jan. 31, 2008, to shareholders of record on Dec. 31, 2007.
Xerox is hosting its annual investor conference in New York City today during which the company will outline its growth strategy and expectations for continued double-digit earnings expansion. The investor conference can be viewed through a live video webcast, beginning at 9 a.m. ET. A replay is available after 5 p.m. ET today.
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