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Feb. 7, 2013 /PRNewswire/ -- Lender Processing Services, Inc. (NYSE: LPS), a leading provider of integrated technology and services to the mortgage and real estate industries, today announced the company's board of directors authorized the repurchase of up to
$100 million of LPS outstanding common stock. The authorization ends on
June 30, 2014, and replaces the company's prior repurchase authorization which expired on
Dec. 31, 2012.
The board also authorized a regular quarterly dividend of
$0.10 per common share. The dividend is payable on
March 21, 2013, to shareholders of record as of the close of business on
March 7, 2013.
"These actions reflect our confidence in the future of LPS' business and our commitment to delivering value and returning cash to our shareholders over the long term," said
Hugh Harris, LPS president and chief executive officer.
Dec. 31, 2012, LPS had 84,912,767 common shares outstanding.
About Lender Processing Services
Lender Processing Services (NYSE: LPS) delivers comprehensive technology solutions and services, as well as powerful data and analytics, to the nation's top mortgage lenders, servicers and investors. As a proven and trusted partner with deep client relationships, LPS offers the only end-to-end suite of solutions that provides major U.S. banks and many federal government agencies the technology and data needed to support mortgage lending and servicing operations, meet unique regulatory and compliance requirements and mitigate risk.
These integrated solutions support origination, servicing, portfolio retention and default servicing. LPS' servicing solutions include MSP, the industry's leading loan-servicing platform, which is used to service approximately 50 percent of all U.S. mortgages by dollar volume. The company also provides proprietary data and analytics for the mortgage, real estate and capital markets industries.