Acxiom® Announces $50 Million Stock Repurchase Program
November 07 2008 - 2:00PM
Business Wire
The board of directors of Acxiom� Corporation (Nasdaq: ACXM) today
authorized a new stock purchase program of up to $50 million of its
common stock. It also voted to suspend the quarterly dividend for
the foreseeable future. Michael J. Durham, non-executive chairman
of the board, stated, �The Board believes a stock repurchase
program gives the company more flexibility and better positions it
to preserve and enhance shareholder value.� John Meyer, chief
executive officer and president, stated, �Despite stress and
uncertainty in the economy, the company has increased its cash
balance by almost 50% during the first six months of this fiscal
year to a total of $93.4 million. We believe this cash position
gives us the flexibility to utilize the funds towards a stock
repurchase.� About Acxiom Corporation The global leader in
interactive marketing services, Acxiom connects clients with their
customers through deep consumer insight, powering effective and
profitable marketing initiatives and business decisions. Our
consultative approach spans multiple industries and incorporates
decades of experience in consumer data and analytics, information
technology, data integration and consulting solutions for effective
marketing across digital, Internet, email, mobile and direct mail
channels. Founded in 1969, Acxiom is headquartered in Little Rock,
Ark., and serves clients around the world from locations in the
United States, Europe and Asia-Pacific. For more information about
Acxiom, visit www.acxiom.com.
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