Our Terms of Service and Privacy Policy have changed.

By continuing to use this site, you are agreeing to the new Privacy Policy and Terms of Service.

Xerox declares first dividend in six years

Company announces a quarterly cash dividend of 4.25 cents a share as business returns to health.

Subscribe to Companies
google my aol my msn my yahoo! netvibes
Paste this link into your favorite RSS desktop reader
See all CNNMoney.com RSS FEEDS (close)
By Keisha Lamothe, CNNMoney.com staff writer

NEW YORK (CNNMoney.com) -- Xerox Corp. declared a quarterly cash dividend company on Monday, the first in more than six years.

The dividend of 4.25 cents a common share will be payable on Jan. 31, 2008 to shareholders of record on Dec. 31, 2007, the company said.

"With our return to investment grade, strong cash generation and effective business model, we've significantly strengthened our financial position, providing flexibility for investing in our business and delivering shareholder returns," Anne M. Mulcahy, Xerox (Charts, Fortune 500) chairman and CEO, said in a statement.

"Declaring a dividend and our continued share repurchase initiatives reflect the health of our business and our belief in the long-term value we're creating for Xerox shareholders," she said.

The company will host its annual investor conference Monday morning where it will outline its growth strategy and expectations for continued double-digit earnings growth.

Last month, Xerox reported a third-quarter profit that beat Wall Street's expectations. To top of page

Photo Galleries
A look at Sears through the years Now Sears has officially said its business has an uncertain future, here's a look at photographs that documents the store's rich history. More
Coolest hotel bars for business travelers in 2017 CNNMoney asked a high-end concierge service for routine business travelers what hotel bars they'd recommend in 4 major U.S. cities. Here are the best spots. More
Top credit cards for business travelers 2017 Just like a pair of pants, there's no 'one size fits all' when it comes to the best credit cards for travelers. More
Sponsors