Continuing Strong Cash Flows Drive Increase in ARC Quarterly Cash Dividend

Rhea-AI Summary

ARC Document Solutions (NYSE:ARC) has announced a quarterly cash dividend of $0.02 per share, marking a 100% increase from the previous amount. This dividend is payable on May 31, 2021, to shareholders of record as of April 30, 2021, with an ex-dividend date of April 29, 2021. This represents the second of four planned quarterly dividends for 2021. The company's board also extended its share repurchase authorization by an additional $15 million, with approximately $10 million still available for buybacks.

Positive

• Quarterly dividend increased by 100% to $0.02 per share, showcasing strong cash flows.
• Commitment to return value to shareholders emphasized by CEO.
• Extension of share repurchase authorization indicates confidence in company value.

Negative

• None.

SAN RAMON, CA / ACCESSWIRE / February 16, 2021 / ARC Document Solutions, Inc. (NYSE:ARC) on Tuesday announced that its board of directors declared a quarterly cash dividend of $0.02 per share, increasing its previous dividend amount by 100%. The dividend is payable May 31, 2021 to shareholders of record as of April 30, 2021. The ex-dividend date will be April 29, 2021.

This is the second of four quarterly cash dividends planned for 2021 as previously announced on December 11, 2020.

"Based on the strength and consistency of our cash flows in 2020, we are pleased to announce a significant increase in our quarterly dividend program for 2021, and to reiterate our commitment to returning value to our shareholders," said Suri Suriyakumar, CEO of ARC.

The Company's board of directors also extended its previous authorization to purchase up to $15 million of ARC shares. Set to expire on March 31, 2021, the authorization was extended through March 31, 2023. Approximately $10 million remains available for share repurchases in the open market and as other opportunities allow.

About ARC Document Solutions
ARC provides a wide variety of document distribution and graphic production services to facilitate communication for professionals in the design, marketing, commercial real estate, construction and related fields. Follow ARC at www.e-arc.com.

For more information, contact David Stickney, Investor & Corporate Communications, at 925-949-5100, or via email at david.stickney@e-arc.com

SOURCE: ARC Document Solutions

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https://www.accesswire.com/629829/Continuing-Strong-Cash-Flows-Drive-Increase-in-ARC-Quarterly-Cash-Dividend

FAQ

What is the new dividend amount announced by ARC?

ARC has announced a new quarterly dividend of $0.02 per share.

When is the dividend payable?

The dividend is payable on May 31, 2021.

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

The ex-dividend date is April 29, 2021.

How much has ARC increased its dividend by?

ARC has increased its dividend by 100%.

Is ARC planning more dividends in 2021?

Yes, this is the second of four quarterly dividends planned for 2021.