ARC Announces 150% Increase in Quarterly Cash Dividend

Rhea-AI Summary

ARC Document Solutions has announced a significant increase in its quarterly cash dividend, raising it from $0.02 to $0.05 per share, marking a 150% increase. This change reflects the company's commitment to returning value to shareholders. The new dividend will be payable on February 28, 2022, to shareholders of record by January 31, 2022, resulting in an annual dividend of $0.20 per share. The ex-dividend date is set for January 28, 2022. This decision is part of ARC's broader strategy to enhance shareholder value amid ongoing transformation efforts.

Positive

• 150% increase in quarterly cash dividend from $0.02 to $0.05 per share.
• Annual dividend now totals $0.20 per share, boosting investor returns.
• Demonstrates company confidence and commitment to returning shareholder value.

Negative

• None.

Second Increase in Less Than 12 Months

SAN RAMON, CA / ACCESSWIRE / December 8, 2021 / ARC Document Solutions, Inc. (NYSE:ARC) today announced that its Board of Directors has approved an increase in the company's quarterly cash dividend from $0.02 to $0.05 per share. Management said the 150 percent increase reflects the company's focus on returning shareholder value.

The $0.05 quarterly dividend is payable February 28, 2022, to shareholders of record as of January 31, 2022, and raises the company's annual dividend to $0.20 per share. The ex-dividend date will be January 28, 2022. The program will operate independently of ARC's continuing share repurchases in the open market as discussed on ARC's third quarter conference call held on November 4, 2021.

"As stated in our earnings call, our transformation efforts have taken hold and have provided us with greater visibility and confidence into the future potential of our company," said Suri Suriyakumar, CEO of ARC Document Solutions. "It also allows us to continue and enhance the commitment we've made to our investors to return shareholder value."

About ARC Document Solutions (NYSE:ARC)

ARC provides specialized digital printing and document imaging and scanning services for visual communicators in a diverse range of industries and professions. Today, with more than 130 service centers in North America and in select locations around the world, ARC delights its customers with every image it captures and every document it produces. To find out more, follow ARC at www.e-arc.com.

Contact Information:
David Stickney
VP Corporate Communications & Investor Relations
925-949-5114

SOURCE: ARC Document Solutions, Inc.

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https://www.accesswire.com/676691/ARC-Announces-150-Increase-in-Quarterly-Cash-Dividend

FAQ

What is the new dividend amount for ARC Document Solutions?

The new dividend amount is $0.05 per share, effective February 28, 2022.

When is the ex-dividend date for ARC's new dividend?

The ex-dividend date is January 28, 2022.

What will be the total annual dividend for ARC in 2022?

The total annual dividend for ARC will be $0.20 per share.

How often does ARC Document Solutions pay dividends?

ARC Document Solutions pays dividends quarterly.