World Fuel Services Corporation Increases Quarterly Cash Dividend by 60%
March 03 2015 - 05:06PM
Business Wire
World Fuel Services Corporation (NYSE:INT) announced today that
its board of directors has increased its quarterly cash dividend by
60% to $0.06 per share, payable on April 10, 2015 to shareholders
of record on March 20, 2015.
"The strength of our balance sheet and consistent operating cash
flow performance enable us to increase our dividend, which allows
us to return capital to our shareholders while continuing to invest
in our growing suite of business opportunities worldwide," stated
Michael J. Kasbar, chairman and chief executive officer of World
Fuel Services Corporation.
Information Relating to Forward-Looking
Statements
This release includes forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995,
including statements regarding our expectations about our business
opportunities. These forward-looking statements are qualified in
their entirety by cautionary statements and risk factor disclosures
contained in the company’s Securities and Exchange Commission
(“SEC”) filings, including the company’s Annual Report on Form 10-K
filed with the SEC on February 12, 2015. Actual results may differ
materially from any forward-looking statements due to risks and
uncertainties, including, but not limited to: our ability to
effectively integrate and derive benefits from acquired businesses,
our ability to capitalize on new market opportunities, potential
liabilities and the extent of any insurance coverage, the outcome
of pending litigation and other proceedings, the impact of
quarterly fluctuations in results, the creditworthiness of our
customers and counterparties and our ability to collect accounts
receivable, fluctuations in world oil prices or foreign currency,
changes in political, economic, regulatory, or environmental
conditions, adverse conditions in the markets or industries in
which we or our customers and suppliers operate, our failure to
effectively hedge certain financial risks associated with the use
of derivatives, non-performance by counterparties or customers on
derivatives contracts, loss of, or reduced sales, to a significant
government customer, uninsured losses, the impact of natural
disasters, adverse results in legal disputes, unanticipated tax
liabilities, our ability to retain and attract senior management
and other key employees and other risks detailed from time to time
in the company’s SEC filings. New risks emerge from time to time
and it is not possible for management to predict all such risk
factors or to assess the impact of such risks on our business.
Accordingly, we undertake no obligation to publicly update or
revise any forward-looking statements, whether as a result of new
information, changes in expectations, future events, or
otherwise.
About World Fuel Services
Corporation
Headquartered in Miami, Florida, World Fuel Services is a global
fuel logistics, transaction management and payment processing
company, principally engaged in the distribution of fuel and
related products and services in the aviation, marine and land
transportation industries. World Fuel Services sells fuel and
delivers services to its clients at more than 8,000 locations in
more than 200 countries and territories worldwide.
The company's global team of market makers provides deep domain
expertise in all aspects of aviation, marine and land fuel
management. Aviation customers include commercial airlines, cargo
carriers, private aircraft and fixed base operators (FBOs), as well
as the United States and foreign governments. World Fuel Services'
marine customers include international container and tanker fleets,
cruise lines and time-charter operators, as well as the United
States and foreign governments. Land customers include petroleum
distributors, retail petroleum operators, and industrial,
commercial, residential and government accounts. The company also
offers transaction management services which consist of card
payment solutions and merchant processing services to customers in
the aviation, marine and land transportation industries. For more
information, call 305-428-8000 or visit www.wfscorp.com.
World Fuel Services CorporationIra M. Birns,
305-428-8000Executive Vice President & Chief Financial
OfficerorGlenn Klevitz, 305-428-8000Vice President & Assistant
Treasurer
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