SAN JUAN, Puerto Rico--(BUSINESS WIRE)--
EVERTEC, Inc. (NYSE: EVTC) (“EVERTEC” or the “Company”) today announced
its Board of Directors has approved a regular quarterly dividend program.
“EVERTEC generates significant annual free cash flow and has a strong
balance sheet with substantial liquidity,” said Peter Harrington,
EVERTEC’s President and Chief Executive Officer. “Our decision to
initiate a regular quarterly dividend is a reflection of this meaningful
cash flow generation, our financial flexibility and our commitment to
focus on maximizing total value to our shareholders. Going forward, we
remain focused on the execution of our growth strategy and are excited
by the breadth of opportunities available to us to continue to build and
enhance long-term total shareholder value.”
The initial quarterly dividend of $0.10 per share will be paid on
September 6, 2013 to stockholders of record as of the close of business
on August 19, 2013. The Board anticipates declaring this dividend in
future quarters on a regular basis; however future declarations of
dividends are subject to Board of Director approval and may be adjusted
as business needs or market conditions change.
About EVERTEC
EVERTEC is the leading full-service transaction processing business in
Latin America and the Caribbean. Based in Puerto Rico, EVERTEC provides
a broad range of merchant acquiring, payment processing and business
process management services across 19 countries in the region. EVERTEC
processes over 1.8 billion transactions annually, and manages the
electronic payment network for over 4,100 automated teller machines
(“ATM”) and over 104,000 point-of-sale payment terminals. EVERTEC is the
largest merchant acquirer in the Caribbean and Central America and the
sixth largest in Latin America. EVERTEC owns and operates the ATH
network, one of the leading ATM and personal identification number debit
networks in Latin America. In addition, EVERTEC provides a comprehensive
suite of services for core bank processing, cash processing and
technology outsourcing. EVERTEC serves a broad and diversified customer
base of leading financial institutions, merchants, corporations and
government agencies with ‘mission critical’ technology solutions and
believes its business is well positioned to continue to expand across
the fast growing Latin American region. For more information, visit http://www.evertecinc.com.
Forward-Looking Statements
Certain statements in this press release constitute “forward-looking
statements” within the meaning of, and subject to the protection of, the
Private Securities Litigation Reform Act of 1995. Such forward-looking
statements involve known and unknown risks, uncertainties, and other
factors which may cause the actual results, performance or achievements
of EVERTEC to be materially different from any future results,
performance or achievements expressed or implied by such forward-looking
statements. Statements preceded by, followed by, or that otherwise
include the words “believes,” “expects,” “anticipates,” “intends,”
“projects,” “estimates,” and “plans” and similar expressions of future
or conditional verbs such as “will,” “should,” “would,” “may,” and
“could” are generally forward-looking in nature and not historical
facts. Any statements that refer to expectations or other
characterizations of future events, circumstances or results are
forward-looking statements.
Various factors that could cause actual future results and other
future events to differ materially from those estimated by management
include, but are not limited to: our reliance on our relationship with
Popular for a significant portion of our revenues; our ability to renew
our client contracts on terms favorable to us; our dependence on our
processing systems, technology infrastructure, security systems and
fraudulent-payment-detection systems; our ability to develop, install
and adopt new technology; a decreased client base due to consolidations
in the banking and financial-services industry; the credit risk of our
merchant clients, for which we may also be liable; the continuing market
position of the ATH® network; our dependence on credit card
associations; changes in the regulatory environment and changes in
international, legal, political, administrative or economic conditions;
the geographical concentration of our business in Puerto Rico; operating
an international business in multiple regions with potential political
and economic instability; our ability to execute our expansion and
acquisition strategies; our ability to protect our intellectual property
rights; our ability to recruit and retain qualified personnel; our
ability to comply with federal, state, and local regulatory
requirements; evolving industry standards; our high level of
indebtedness and restrictions contained in our debt agreements; and our
ability to generate sufficient cash to service our indebtedness and to
generate future profits.
Consideration should be given to the areas of risk described above,
as well as those risks set forth under the headings “Forward-Looking
Statements” and “Risk Factors” in the reports the Company files with the
SEC from time to time, in connection with considering any
forward-looking statements that may be made by us and our businesses
generally. We undertake no obligation to release publicly any revisions
to any forward-looking statements, to report events or to report the
occurrence of unanticipated events unless we are required to do so by
law.
EVERTEC, Inc.
Luis M. Cabrera, 787-773-5302
Senior Vice
President
Head of Investor Relations
IR@evertecinc.com
Source: EVERTEC, Inc.