Capella Education Company Announces Increase in Quarterly Cash Dividend; Increase to Share Repurchase Program
December 09 2015 - 4:15PM
Business Wire
Capella Education Company (NASDAQ: CPLA), a provider of
online post-secondary education, primarily through its wholly owned
subsidiary Capella University, announced today that its board of
directors has approved a 2 cent increase in its quarterly cash
dividend to $0.39 per outstanding share of common stock.
The board of directors also approved a $50 million increase to its
share repurchase program. This increase is in addition to the $6.2
million that currently remains under the share repurchase
program.
The cash dividend is payable on Jan. 15, 2016 to
shareholders of record as of the close of business on Dec. 23,
2015.
The share repurchases will be made in the open market at
prevailing market prices or in privately negotiated transactions
using existing resources and cash generated from operations. The
Company may also repurchase shares pursuant to a 10b5-1 plan which
allows the Company to purchase shares during corporate black-out
periods. While the company expects to take advantage of market
conditions, the timing and extent of any repurchases, the trading
price of the Company’s shares and other factors are subject to
restrictions relating to volume, price and timing under applicable
law. The repurchase program may be modified, suspended or
terminated at any time by the Company without notice.
About Capella Education Company
Founded in 1991, Capella Education Company
(http://www.capellaeducation.com) is a leader in online education,
primarily through our wholly owned subsidiary Capella University
(http://www.capella.edu), a regionally accredited* online
university with almost 37,000 learners as of Sept. 30, 2015. In
addition, Capella Education Company offers online education through
Arden University, formerly called Resource Development
International Ltd. (RDI) (http://www.rdi.co.uk), an independent
provider of United Kingdom (UK) university distance learning
qualifications. Capella Education Company also owns Sophia
(http://www.sophia.org), an innovative learning platform leveraging
technology to support self-paced learning.
*Capella University is accredited by The Higher Learning
Commission.
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version on businesswire.com: http://www.businesswire.com/news/home/20151209006458/en/
Capella Education CompanyInvestor Contact:Heide
Erickson, 612-977-5172Heide.Erickson@capella.edu
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