World Fuel Services Corporation to Increase Quarterly Dividend by 66%
board of directors has approved a 66% increase to its quarterly cash
dividend to
next regular quarterly dividend payable in
“While we will continue to use our available capital to principally
invest in growing our core businesses, our strong balance sheet and
confidence in the company’s cash generation capabilities enables us to
also deliver greater value to our shareholders,” stated
Executive Vice President and Chief Financial Officer of
Services Corporation
combination of a dividend increase and share repurchases from time to
time.”
About
Headquartered in
management company involved in providing energy procurement advisory
services, supply fulfillment and transaction and payment management
solutions to commercial and industrial customers, principally in the
aviation, marine and land transportation industries.
sells fuel and delivers services to its clients at more than 8,000
locations in more than 200 countries and territories worldwide.
For more information, call 305-428-8000 or visit www.wfscorp.com.
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 future cash generation, dividends and share
repurchases. These forward-looking statements are qualified in their
entirety by cautionary statements and risk factor disclosures contained
in the Company’s
including the Company’s most recent Annual Report on Form 10-K filed
with the
forward-looking statements due to risks and uncertainties, including,
but not limited to: our ability to generate expected cash from
operations, the availability and price of our stock on the open market,
our ability to effectively leverage technology and operating systems and
realize the anticipated benefits, our ability to successfully execute
and achieve efficiencies and other benefits related to our
transformation initiatives, our ability to achieve the expected level of
benefit from our restructuring activities and cost reduction
initiatives, unanticipated tax liabilities or adverse results of tax
audits, assessments, or disputes, the loss of, or reduced sales, to a
significant government customer such as the
Organization
our ability to effectively integrate acquired businesses and recognize
the anticipated benefits, risks related to the complexity of U.S. Tax
Reform and our ability to accurately predict its impact on our returns
and future earnings, our ability to capitalize on new market
opportunities and changes in supply and other market dynamics in the
regions where we operate, potential liabilities and the extent of any
insurance coverage, the outcome of pending litigation and other
proceedings, the impact of quarterly fluctuations in results,
particularly as a result of seasonality, 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, supply disruptions, border closures and
other logistical difficulties that can arise when sourcing and
delivering fuel in areas that are actively engaged in war or other
military conflicts, our failure to effectively hedge certain financial
risks associated with the use of derivatives, non-performance by
counterparties or customers on derivatives contracts, uninsured losses,
the impact of natural disasters, adverse results in legal disputes, our
ability to retain and attract senior management and other key employees
and other risks detailed from time to time in our
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,
except as required by law.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190508005927/en/
Source:
Ira M. Birns, Executive Vice President &
Chief Financial Officer
Glenn
Klevitz
Vice President, Assistant Treasurer
305-428-8000
