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Strayer Education, Inc. Reports First Quarter 2012 Revenues And Earnings; And Spring Term 2012 Enrollments

Stocks in this article: STRA

New Campus Openings

The Company announced today that it plans to open four new campuses for the 2012 summer term subject to regulatory approval. Two of the new campuses are located in Minneapolis, Minnesota, a new market for Strayer University. The other two new campuses are planned to open in Chicago, Illinois and will represent the University’s third and fourth campuses in that market. Including these four new campuses, the Company plans to open a total of eight new campuses in 2012, subject to regulatory approval.

Jack Welch Management Institute Names New Dean

Strayer University today announced the appointment of Daniel Szpiro, Ph.D., as the dean of the Jack Welch Management Institute. Dr. Szpiro currently serves as the associate dean for executive education at Cornell University’s Johnson Graduate School of Management. He joins the Jack Welch Management Institute following a long and distinguished career in executive education, both at Cornell University, and at the Queen’s University School of Business in Canada, where he served as director of its Executive MBA Program. Dr. Szpiro also spent more than 10 years in private industry holding senior business leadership roles.

"We are very pleased that Dr. Szpiro is joining the Strayer University team," said Robert S. Silberman, Chairman and CEO of Strayer Education, Inc. "His extensive experience in executive education and high quality online MBA programs will serve as an asset to the Jack Welch Management Institute and its students.”

Quarterly Cash Dividend

The Company announced today that its Board of Directors had declared a regular, quarterly cash dividend of $1.00 per share. This dividend will be paid on June 11, 2012 to shareholders of record as of May 29, 2012.

Stock-based Compensation Activity

In February 2012, the Company’s Board of Directors approved grants of approximately 72,000 shares of restricted stock to certain individuals under the Company’s 2011 Equity Compensation Plan. The Company’s stock price closed at $115.55 on the date of these restricted stock grants.

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