FIS ™ (NYSE:FIS), the world’s largest provider of banking and payments technology, today announced that its board of directors has authorized a new share repurchase program of up to $2.0 billion, effective through Dec. 31, 2017. The new share repurchase program replaces the previous $1.0 billion program under which approximately $174 million remained outstanding.
“This action, combined with the previously announced increase in the quarterly dividend, reflects our confidence in FIS’ future growth and our commitment to returning cash to our shareholders,” stated Frank Martire, FIS chairman and CEO. “FIS’ robust cash flow enables us to deliver strong returns to our shareholders, while continuing to invest in our global business and maintaining a strong balance sheet.”
FIS (NYSE: FIS) is the world’s largest global provider dedicated to banking and payments technologies. With a long history deeply rooted in the financial services sector, FIS serves more than 14,000 institutions in over 110 countries. Headquartered in Jacksonville, Fla., FIS employs more than 37,000 people worldwide and holds leadership positions in payment processing and banking solutions, providing software, services and outsourcing of the technology that drives financial institutions. First in financial technology, FIS tops the annual FinTech 100 list, is 434 on the Fortune 500 and is a member of Standard & Poor’s 500 ® Index. For more information about FIS, visit www.fisglobal.com.Forward-Looking Statements This news release contains “forward-looking statements” within the meaning of the U.S. federal securities laws. Statements that are not historical facts, including statements about future revenue, organic revenue, earnings before interest, taxes, depreciation and amortization (“EBITDA”), earnings per share and margin expansion, as well as other statements about our expectations, hopes, intentions, or strategies regarding the future, are forward-looking statements. These statements relate to future events and our future results, and involve a number of risks and uncertainties. Forward-looking statements are based on management’s beliefs, as well as assumptions made by, and information currently available to, management. Any statements that refer to beliefs, expectations, projections or other characterizations of future events or circumstances and other statements that are not historical facts are forward-looking statements.