Interpublic Increases Common Stock Dividend for Eleventh Consecutive Year and Announces New Share Repurchase Program
New York, NY, Feb. 09, 2023 (GLOBE NEWSWIRE) -- Interpublic Group (NYSE: IPG) today announced that the company’s Board of Directors has declared a quarterly dividend on IPG common stock of $0.31 per share, payable on March 15, 2023, to holders of record at the close of business on March 1, 2023. The increase in the dividend from $0.29 to $0.31 per share represents a seven percent increase to the Company’s quarterly dividend.
Additionally, the company's Board of Directors authorized a new program to repurchase, from time to time, up to $350 million of IPG common stock. The authorization under the new program is in addition to any amounts remaining for repurchase under the program announced in 2022. Repurchases under the new program may be effected through open market purchases, trading plans established in accordance with SEC rules, derivative transactions, or other means. The timing and amount of repurchases under the authorization will depend on market conditions and the company's other funding requirements. The share repurchase program has no expiration date.
Philippe Krakowsky, CEO of IPG, commented, “We are very pleased to announce the eleventh consecutive year of increases in our dividend, which have continued uninterrupted through the Covid pandemic, and the new share repurchase program. Together, these actions reflect the continuing strength of our operating results and confidence in our strategic trajectory.”
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Interpublic (NYSE: IPG) (www.interpublic.com) is a values-based, data-fueled, and creatively-driven provider of marketing solutions. Home to some of the world’s best-known and most innovative communications specialists, IPG global brands include Acxiom, Craft, FCB, FutureBrand, Golin, Huge, Initiative, IPG Health, Jack Morton, Kinesso, MAGNA, Matterkind, McCann, Mediahub, Momentum, MRM, MullenLowe Group, Octagon, R/GA, UM, Weber Shandwick and more. IPG is an S&P 500 company with total revenue of $10.93 billion in 2022.
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