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
Meet the kids dressed as Oscars red carpet stars By now, you've seen the red carpet looks from the 2015 Oscars. But you haven't seen 5 year-olds dressed up like A-listers at the awards, until now. Photographer Tricia Messeroux and designer Andrea Pitter recreated the pint-sized looks in just 36 hours. More
Flying economy doesn't have to be miserable For those willing to shell out just a little extra, several à la carte services offer experiences usually reserved for First Class passengers. More
Consumer Reports' Top Picks - American cars are back The magazine's favorite cars include three American models for the first time in years, thanks to a big boost from Tesla. More
Sponsors