SOUTHLAKE, Texas, Oct 11, 2006 (BUSINESS WIRE) — Sabre Holdings Corporation (NYSE: TSG) today announced that its
Board of Directors approved a mid-cycle increase of 30 percent in the
company’s quarterly cash dividend to $0.13 per share of common stock
from $0.10 per share. The next dividend is payable on Nov. 10, 2006 to
shareholders of record at the close of regular trading on the NYSE on
Oct. 23, 2006.
“Our second dividend increase this year reflects the underlying
momentum and long-term prospects for our company,” said Sam Gilliland,
Chairman and CEO, Sabre Holdings. “We are confident in our long-term
cash flows and felt the timing was right to increase our return to
shareholders through a significant dividend increase. We continue to
evaluate the effectiveness of share repurchases, internal
reinvestments and other value creating initiatives over the long
term.”
The dividend increase equates to an annual dividend of $0.52 per
share. Sabre Holdings began paying a cash dividend in the first
quarter of 2003 and has since paid out over $160 million to
shareholders. In January, the board increased the company’s dividend
by 11 percent to $0.10 from $0.09.
Sabre, which today commemorated its 10th anniversary as a public
company, plans to hold a Web cast tomorrow to reflect on historical
progress and to discuss the company’s future direction and other
topics, which includes material information about the company’s
financial outlook. The Web cast is scheduled to begin at 9:30 a.m.,
EDT on Thursday, Oct. 12. The public can register at
www.sabre-holdings.com/investor
A digitized recording of the Web cast, to be available shortly
after the call, will be accessible for one year on the company’s Web
site at the same address above. A digitized replay will also be
accessible by phone scheduled to begin on Oct. 12 at 11:15 a.m. and
end on Oct. 25, 2006 at 12:59 p.m., EDT. The recording can be accessed
in the U.S. at 800-475-6701. International callers should dial
320-365-3844. All callers should use Access Code 844207.
Statements in this release which are not purely historical facts,
including statements about possible future dividends, or other
statements about anticipations, beliefs, expectations, hopes,
intentions or strategies for the future, may be forward-looking
statements within the meaning of Section 21E of the Securities
Exchange Act of 1934, as amended. Readers are cautioned not to place
undue reliance on forward-looking statements. All forward-looking
statements are based upon information available to Sabre Holdings on
the date this release was issued. Sabre Holdings undertakes no
obligation to publicly update or revise any forward-looking
statements, whether as a result of new information, future events or
otherwise. Any forward-looking statements involve risks and
uncertainties that could cause actual events or results to differ
materially from the events or results described in the forward-looking
statements, including risks or uncertainties related to Sabre Holdings
revenues being highly dependent on the travel and transportation
industries, the financial condition of travel suppliers, and
geopolitical developments, such as the possibility of additional
terrorist attacks. Sabre Holdings may not succeed in addressing these
and other risks. Further information regarding factors that could
affect our financial and other results can be found in the risk
factors section of our most recent filing on Form 10-Q with the
Securities and Exchange Commission.
SOURCE: Sabre Holdings Corporation
Sabre Holdings Corporation, Southlake
Media Relations:
Michael Berman, 682-605-2397
or
Investor Relations:
Karen Fugate, 682-605-2343