SOUTHLAKE, Texas, Oct 11, 2006 (BUSINESS WIRE) — Sabre Holdings Corporation (NYSE: TSG) today announced that its Board of Directors approved a mid-cycle increase of 30 percent in the company’s quarterly cash dividend to $0.13 per share of common stock from $0.10 per share. The next dividend is payable on Nov. 10, 2006 to shareholders of record at the close of regular trading on the NYSE on Oct. 23, 2006.
“Our second dividend increase this year reflects the underlying momentum and long-term prospects for our company,” said Sam Gilliland, Chairman and CEO, Sabre Holdings. “We are confident in our long-term cash flows and felt the timing was right to increase our return to shareholders through a significant dividend increase. We continue to evaluate the effectiveness of share repurchases, internal reinvestments and other value creating initiatives over the long term.”
The dividend increase equates to an annual dividend of $0.52 per share. Sabre Holdings began paying a cash dividend in the first quarter of 2003 and has since paid out over $160 million to shareholders. In January, the board increased the company’s dividend by 11 percent to $0.10 from $0.09.
Sabre, which today commemorated its 10th anniversary as a public company, plans to hold a Web cast tomorrow to reflect on historical progress and to discuss the company’s future direction and other topics, which includes material information about the company’s financial outlook. The Web cast is scheduled to begin at 9:30 a.m., EDT on Thursday, Oct. 12. The public can register at www.sabre-holdings.com/investor
A digitized recording of the Web cast, to be available shortly after the call, will be accessible for one year on the company’s Web site at the same address above. A digitized replay will also be accessible by phone scheduled to begin on Oct. 12 at 11:15 a.m. and end on Oct. 25, 2006 at 12:59 p.m., EDT. The recording can be accessed in the U.S. at 800-475-6701. International callers should dial 320-365-3844. All callers should use Access Code 844207.
Statements in this release which are not purely historical facts, including statements about possible future dividends, or other statements about anticipations, beliefs, expectations, hopes, intentions or strategies for the future, may be forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. Readers are cautioned not to place undue reliance on forward-looking statements. All forward-looking statements are based upon information available to Sabre Holdings on the date this release was issued. Sabre Holdings undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Any forward-looking statements involve risks and uncertainties that could cause actual events or results to differ materially from the events or results described in the forward-looking statements, including risks or uncertainties related to Sabre Holdings revenues being highly dependent on the travel and transportation industries, the financial condition of travel suppliers, and geopolitical developments, such as the possibility of additional terrorist attacks. Sabre Holdings may not succeed in addressing these and other risks. Further information regarding factors that could affect our financial and other results can be found in the risk factors section of our most recent filing on Form 10-Q with the Securities and Exchange Commission.
SOURCE: Sabre Holdings Corporation
Sabre Holdings Corporation, Southlake
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