BOCA RATON, Fla.--(BUSINESS WIRE)--Aug. 3, 2016--
Office Depot, Inc. (NASDAQ: ODP) announced that its Board of Directors
declared a dividend of $0.025 per share ($0.10 per share on an
annualized basis) on the common stock of the Company. The dividend is
payable on September 15, 2016, to shareholders of record at the close of
business on August 25, 2016.
Office Depot Chairman and CEO, Roland Smith, commented, “The initiation
of a quarterly dividend reflects confidence in our ability to generate
future cash flow, as well as our commitment to shareholder return. The
annualized dividend of $0.10 per share represents an approximate 3%
yield based on the $3.29 closing stock price on August 2, 2016.”
About Office Depot, Inc.
Office Depot, Inc. is a leading global provider of products, services,
and solutions for every workplace – whether your workplace is an office,
home, school or car.
Office Depot, Inc. is a resource and a catalyst to help customers work
better. We are a single source for everything customers need to be more
productive, including the latest technology, core office supplies, print
and document services, business services, facilities products,
furniture, and school essentials.
The Company has annual sales of approximately $14 billion, employs
approximately 49,000 associates, and serves consumers and businesses in
59 countries with approximately 1,800 retail stores, award-winning
e-commerce sites and a dedicated business-to-business sales organization
– all delivered through a global network of wholly owned operations,
franchisees, licensees and alliance partners. The Company operates under
several banner brands including Office Depot, OfficeMax, Grand & Toy,
and Viking. The company’s portfolio of exclusive product brands include
TUL, Foray, Brenton Studio, Ativa, WorkPro, Realspace and HighMark.
Office Depot, Inc.’s common stock is listed on the NASDAQ Global Select
Market under the symbol “ODP”. Additional press information can be found
FORWARD LOOKING STATEMENTS
This communication may contain forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995,
including but not limited to statements regarding the size and timing of
future dividends. These statements or disclosures may discuss goals,
intentions and expectations as to future trends, plans, events, results
of operations or financial condition, or state other information
relating to, among other things, Office Depot, based on current beliefs
and assumptions made by, and information currently available to,
management. Forward-looking statements generally will be accompanied by
words such as “anticipate,” “believe,” “plan,” “could,” “estimate,”
“expect,” “forecast,” “guidance,” “intend,” “may,” “possible,”
“potential,” “predict,” “project,” “propose” or other similar words,
phrases or expressions, or other variations of such words. These
forward-looking statements are subject to various risks and
uncertainties, many of which are outside of Office Depot’s control.
There can be no assurances that Office Depot will realize these
expectations or that these beliefs will prove correct, and therefore
investors and stockholders should not place undue reliance on such
Factors that could cause actual results to differ materially from those
in the forward-looking statements are described in Office Depot’s Annual
Reports on Form 10-K, as amended, and Quarterly Reports on Form 10-Q
filed with the Securities and Exchange Commission. Office Depot does not
assume any obligation to update or revise any forward-looking statements.
All trademarks, service marks and trade names of Office Depot, Inc.
and OfficeMax Incorporated used herein are trademarks or registered
trademarks of Office Depot, Inc. and OfficeMax Incorporated,
respectively. Any other product or company names mentioned herein are
the trademarks of their respective owners.
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Source: Office Depot, Inc.
Office Depot, Inc.
Richard Leland, 561-438-3796