United Stationers Inc. (NASDAQ: USTR) announced today that its board of directors has declared a quarterly cash dividend of $0.13 per share payable on April 13, 2012 to stockholders of record at the close of business on March 15, 2012.
The board also approved and authorized the company to purchase an additional $100 million of its common stock. Repurchases will be made in accordance with applicable securities laws in the open market or in privately negotiated transactions. Depending on market conditions and other factors, these repurchases may commence or cease from time to time without prior notice. The company also has $25 million remaining under the prior authorization approved by its board in July, 2011.
This news release contains forward-looking statements, including references to goals, plans, strategies, objectives, projected costs or savings, anticipated future performance, results or events and other statements that are not strictly historical in nature. These statements are based on management’s current expectations, forecasts and assumptions. This means they involve a number of risks and uncertainties that could cause actual results to differ materially from those expressed or implied here. These risks and uncertainties include, but are not limited to the following: prevailing economic conditions and changes affecting the business products industry and the general economy; United’s ability to effectively manage its operations and to implement growth, cost-reduction and margin-enhancement initiatives; United’s reliance on key customers, and the risks inherent in continuing or increased customer concentration; United’s reliance on key suppliers and the supplier allowances and promotional incentives they offer; United’s reliance on independent resellers for a significant percentage of its net sales and, therefore, the importance of the continued independence, viability and success of these resellers; continuing or increasing competitive activity and pricing pressures within existing or expanded product categories, including competition from product manufacturers who sell directly to United’s customers; the impact of a loss of, or substantial decrease in, the availability of products or service from key vendors at competitive prices; United’s ability to maintain its existing information technology and e-commerce systems and to successfully procure and implement new systems without business disruption or other unanticipated difficulties or costs; the ability of key customers to timely pay all amounts due to United; United’s ability to manage inventory in order to maximize sales and supplier allowances while minimizing excess and obsolete inventory; United’s ability to effectively identify, consummate and integrate acquisitions; the costs associated with United’s data security or any security breaches; the costs of complying with or of the imposition of liability under the laws affecting United’s business; the availability of financing sources to meet United’s business needs; United’s ability to recruit, retain and develop high-performing managers; and the effects of hurricanes, acts of terrorism and other natural or man-made disruptions.