Sabre Holdings Corporation announced that its Board of Directors approved a mid-cycle increase of 30 percent in the company’s quarterly cash dividend to $0.13 per share of common stock from $0.10 per share.The next dividend is payable on Nov. 10, 2006 to shareholders of record at the close of regular trading on the NYSE on Oct. 23, 2006.
“Our second dividend increase this year reflects the underlying momentum and long-term prospects for our company,” said Sam Gilliland, Chairman and CEO, Sabre Holdings. “We are confident in our long-term cash flows and felt the timing was right to increase our return to shareholders through a significant dividend increase. We continue to evaluate the effectiveness of share repurchases, internal reinvestments and other value creating initiatives over the long term.”
The dividend increase equates to an annual dividend of $0.52 per share. Sabre Holdings began paying a cash dividend in the first quarter of 2003 and has since paid out over $160 million to shareholders. In January, the board increased the company’s dividend by 11 percent to $0.10 from $0.09.
Sabre, which today commemorated its 10th anniversary as a public company, plans to hold a Web cast tomorrow to reflect on historical progress and to discuss the company’s future direction and other topics, which includes material information about the company’s financial outlook. The Web cast is scheduled to begin at 9:30 a.m., EDT on Thursday, Oct. 12. The public can register at www.sabre-holdings.com/investor