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
Getty family known for its wealth and misfortunes The Getty family may be as famous for its fortune as the misfortune that has dogged its name for years. Here is a brief history of the players in the tumultuous Getty saga. More
The 32 best April Fools' Day gags of 2015 April Fools' Day is here, which means that businesses around the world are letting their guard down. More
World's worst cities for rush hour traffic So you thought your city had the worst rush hour traffic in the world? More
Sponsors