Intersections Inc. Announces Special Dividend of $0.50 Per Share and 10th Consecutive Quarterly Dividend
Intersections Inc. (NASDAQ: INTX) announced today that its Board of Directors declared a one-time special cash dividend of $0.50 per share and a quarterly cash dividend of $0.20 per share, both payable on November 30, 2012 to stockholders of record as of November 20, 2012. This represents Intersections' 10th consecutive ordinary quarterly cash dividend. Based on the closing price on October 25, 2012 of $9.04 per share, our quarterly cash dividend represents an effective annual dividend yield of 8.8 percent, and our special dividend represents an incremental yield to investors of 5.5%. The total pre-tax amount of the special and ordinary dividend payments, together with dividend equivalent payments to holders of options and restricted stock units, will be approximately $14.7 million and will be paid from cash on hand. Future dividends, if any, will depend on, among other things, our results of operations, capital requirements and such other factors as our Board of Directors may at the time consider relevant.
“These actions demonstrate the Board's confidence in Intersections and our philosophy of continuing to return capital to shareholders while still investing in future growth,” said Michael Stanfield, Chairman and Chief Executive Officer of Intersections Inc.
Statements in this press release relating to future plans, results, performance, expectations, achievements and the like are considered “forward-looking statements.” Those forward-looking statements involve known and unknown risks and are subject to change based on various factors and uncertainties that may cause actual results to differ materially from those expressed or implied by those statements, including without limitation the effect of new subscriber additions. Factors and uncertainties that may cause actual results to differ include but are not limited to the risks disclosed in the Company's filings with the U.S. Securities and Exchange Commission. The Company undertakes no obligation to revise or update any forward-looking statements.
About Intersections (www.intersections.com)
Intersections Inc. (Nasdaq: INTX) is a leading provider of consumer and corporate identity risk management services. Intersections provides various levels of service to more than 8.9 million consumers. Those services are offered through North America's leading financial institutions, directly to consumers under Intersections' award-winning IDENTITY GUARD(R) brand (http://www.identityguard.com), and through the company's exclusive partnership with ITAC, the Identity Theft Assistance Center. Since 1996, Intersections has protected the identities of more than 35 million consumers.
Investor Relations Contact:
Eric Miller, 703-488-6100