NICE eliminates dividend
NICE Ltd., formerly NICE-Systems, won't pay a dividend for the first quarter of 2017. Instead the company will buy back its own stock.
In light of continued growth opportunities, NICE is enhancing its capital return strategy to optimize the Company's long term growth profile. Therefore, the board authorized a shift in capital returns towards share repurchases by authorizing a new and enlarged share repurchase program of $150 million, and by eliminating the dividend beginning in Q1 2017. The final dividend payment will be made for Q4 2016, payable in Q1 2017.
Barak Eilam, CEO, stated, "We are pleased to finish 2016 on a high note. The progress we have made with the acquisitions of inContact and Nexidia and the continued execution of our strategic plan have created a wealth of new growth opportunities for NICE. We believe the enhancements we are introducing are the best way to capitalize on these opportunities and create long term shareholder value."
"This new capital structure and shareholder return strategy creates the right balance to allow the company to deploy our capital in an optimal way and to enhance shareholder returns" added Beth Gaspich, CFO of NICE.
NICE Ltd. is the worldwide leading provider of enterprise software solutions that empower organizations to make smarter decisions based on advanced analytics of structured and unstructured data.
Source: NICE press release
In light of continued growth opportunities, NICE is enhancing its capital return strategy to optimize the Company's long term growth profile. Therefore, the board authorized a shift in capital returns towards share repurchases by authorizing a new and enlarged share repurchase program of $150 million, and by eliminating the dividend beginning in Q1 2017. The final dividend payment will be made for Q4 2016, payable in Q1 2017.
Barak Eilam, CEO, stated, "We are pleased to finish 2016 on a high note. The progress we have made with the acquisitions of inContact and Nexidia and the continued execution of our strategic plan have created a wealth of new growth opportunities for NICE. We believe the enhancements we are introducing are the best way to capitalize on these opportunities and create long term shareholder value."
"This new capital structure and shareholder return strategy creates the right balance to allow the company to deploy our capital in an optimal way and to enhance shareholder returns" added Beth Gaspich, CFO of NICE.
NICE Ltd. is the worldwide leading provider of enterprise software solutions that empower organizations to make smarter decisions based on advanced analytics of structured and unstructured data.
Source: NICE press release
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