D&E Communications Approves Stock Repurchase Plan
11 Agosto 2008 - 10:30PM
Marketwired
D&E Communications, Inc. ("D&E" or the "Company") (NASDAQ:
DECC), a leading provider of integrated communications services in
central and eastern Pennsylvania, today announced that, under a
program approved on August 7, 2008 by its board of directors, it
has been authorized to repurchase up to 500,000 shares, or
approximately 3.5 percent of its common stock. As of August 7,
2008, the Company has approximately 14.5 million shares of common
stock outstanding.
"D&E is continually looking to enhance shareholder value,"
commented James W. Morozzi, President and Chief Executive Officer.
"At current price levels, we believe D&E's stock may offer an
attractive investment opportunity and be a good use of available
cash for the Company."
As permitted by securities laws and other legal requirements,
purchases may be made from time to time at prevailing prices. The
program does not obligate the Company to purchase any particular
amount of common stock, and the number of shares that are
repurchased will depend on factors such as the amount of cash on
hand, cash flow generated by operations, cash reinvested in the
Company's business, repayments of debt, the Company's current stock
price , market conditions and other factors. The program will be
operated in compliance with the terms of the Company's credit
facility, which allows for dividends to be paid and equity to be
redeemed in the aggregate annual amount of $10 million. The program
may be suspended, modified or discontinued at any time, does not
have a set expiration date and will be funded using the Company's
working capital.
About D&E Communications
D&E is a leading integrated communications provider offering
high-speed data, Internet access, local and long distance
telephone, data, professional IT services, network monitoring,
security solutions and video services. Based in Lancaster County,
D&E has been serving communities in central and eastern
Pennsylvania for more than 100 years. For more information, visit
www.decommunications.com.
This press release contains forward-looking statements. These
forward-looking statements are found in various places throughout
this press release and include, without limitation, statements
regarding financial and other information. These statements are
based upon the current beliefs and expectations of D&E's
management concerning the development of our business, are not
guarantees of future performance and involve a number of risks,
uncertainties, and other important factors that could cause actual
developments and results to differ materially from our
expectations. Those factors include, but are not limited to, the
effect of the convergence of voice, data, and video technologies on
our historical competitive advantages; the increasingly competitive
nature of the communications industry; the significant indebtedness
of the company; and other key factors that we have indicated could
adversely affect our business and financial performance contained
in our past and future filings and reports, including those filed
with the United States Securities and Exchange Commission. D&E
undertakes no obligation to revise or update its forward-looking
statements whether as a result of new information, future events,
or otherwise.
CONTACT: Thomas E. Morell Sr. Vice President, Chief Financial
Officer, Secretary and Treasurer (717) 738-8315
Grafico Azioni D & E Communications (NASDAQ:DECC)
Storico
Da Mag 2024 a Giu 2024
Grafico Azioni D & E Communications (NASDAQ:DECC)
Storico
Da Giu 2023 a Giu 2024