Current Report Filing (8-k)
June 04 2015 - 8:07AM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
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CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
June 4, 2015
Date of Report (Date of earliest event reported)
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FEI COMPANY
(Exact name of registrant as specified in its charter)
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Oregon | | 000-22780 | | 93-0621989 |
(State or other jurisdiction of incorporation) | | (Commission File Number) | | (IRS Employer Identification No.) |
5350 NE Dawson Creek Drive, Hillsboro, Oregon 97124
(Address of principal executive offices, including zip code)
(503) 726-7500
(Registrant’s telephone number, including area code)
Not Applicable
(Former name or former address, if changed since last report)
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
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¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item 8.01. Other Events.
Quarterly Dividend
On June 4, 2015, FEI Company (the “Company”) issued a press release announcing that its Board of Directors approved a quarterly cash dividend of $0.30 per share on its common stock. The dividend will be paid on July 28, 2015 to shareholders of record as of July 16, 2015. A copy of the press release is furnished as Exhibit 99.1 (not filed) to this report on Form 8-K and is incorporated herein by reference.
Share Repurchase
On June 4, 2015, the Company issued a press release announcing that its Board of Directors had re-authorized a program to repurchase shares of its common stock. The re-authorization allows for the repurchase of 2 million shares from time to time through May 29, 2017. A copy of the press release is furnished as Exhibit 99.1 (not filed) to this report on Form 8-K and is incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
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Exhibit No. | | Description |
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99.1 | | Press Release dated June 4, 2015 |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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FEI COMPANY |
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/s/ Bradley J. Thies |
Bradley J. Thies |
Senior Vice President, General Counsel and Secretary |
Date: June 4, 2015
EXHIBIT INDEX
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Exhibit No. | | Description |
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99.1 | | Press Release dated June 4, 2015 |
EXHIBIT 99.1
NEWS RELEASE
For more information contact:
FEI Company
Jason Willey
Communications Director
(503) 726-2533
jason.willey@fei.com
FEI Company Announces 20% Increase in Cash Dividend, New Share Repurchase Authorization
HILLSBORO, Ore., June 4, 2015 -- FEI Company (Nasdaq: FEIC) announced today that its Board of Directors has approved an increase in the company’s quarterly cash dividend from $0.25 to $0.30 per share of common stock.
The $0.30 per share dividend will be paid on July 28, 2015 to all shareholders of record as of the close of business on July 16, 2015. The timing and amounts of future dividends are subject to determination and approval by FEI's board.
The board of directors also re-authorized and increased the company’s share repurchase program. Under the reauthorization, the company may purchase up to an additional 2.0 million shares of its common stock. The authorization will expire on May 29, 2017.
The amount and timing of specific repurchases are subject to market conditions, applicable legal requirements and other factors. The purchases will be funded from existing cash resources and may be suspended or discontinued at any time.
"FEI initiated a quarterly dividend three years ago at $0.08 per share and has increased the payout each subsequent year,” commented Don Kania, president and CEO. “This increase in the quarterly cash dividend to $0.30 per share, combined with the increased share repurchase authorization, reinforces our commitment to return capital to shareholders. We believe FEI’s strong cash generation profile and healthy balance sheet give us the ability to invest in the business for continued growth while also returning substantial cash to our shareholders."
About FEI
FEI Company (Nasdaq: FEIC) designs, manufactures and supports a broad range of high-performance microscopy workflow solutions that provide images and answers at the micro-, nano- and picometer scales. Its innovation and leadership enable customers in industry and science to increase productivity and make breakthrough discoveries. Headquartered in Hillsboro, Ore., USA, FEI has over 2,700 employees and sales and service operations in more than 50 countries around the world. More information can be found at: www.fei.com.
Safe Harbor Statement
This news release contains forward-looking statements that include statements regarding FEI's plans to pay quarterly dividends and its ability to fund dividends, ongoing share repurchases and additional company growth. Factors that could affect these forward-looking statements include but are not limited to: a significant slowing in revenue; geopolitical risks or other reasons; changes in tax laws applicable to cash dividends or share repurchases; unexpected significant costs related to additional merger and acquisition activity; and unanticipated costs which reduce operating
margins and unexpected uses of cash for restructurings, working capital or other operating purposes. Please also refer to our Form 10-K, Forms 10-Q, Forms 8-K and other filings with the U.S. Securities and Exchange Commission for additional information on these factors and other factors that could cause actual results to differ materially from the forward-looking statements. FEI assumes no duty to update forward-looking statements.
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