Office Depot, Inc. (NASDAQ:ODP), a leading B2B integrated distribution
company providing business
services and supplies, products and technology solutions, today
announced that its Board of Directors declared a dividend of $0.025 per
share ($0.10 per share on an annualized basis) on the common stock of
the Company. The dividend is payable on June 14, 2019, to shareholders
of record at the close of business on May 24, 2019.
About Office Depot, Inc.
Office Depot, Inc. (NASDAQ:ODP) is a leading B2B integrated distribution
company providing business services and supplies, products and
technology solutions through its fully integrated omni-channel platform
of approximately 1,350 stores, online presence, and dedicated sales
professionals and technicians to small, medium and enterprise
businesses. Through its banner brands Office Depot®, OfficeMax®,
CompuCom® and Grand&Toy®, the company offers its customers the tools and
resources they need to focus on their passion of starting, growing and
running their business. For more information, visit news.officedepot.com
and follow @officedepot on Facebook, Twitter and Instagram.
Office Depot is a trademark of The Office Club, Inc. OfficeMax is a
trademark of OMX, Inc. CompuCom is a trademark of CompuCom Systems, Inc.
Grand&Toy is a trademark of Grand & Toy, LLC in Canada. ©2019 Office
Depot, Inc. All rights reserved. Any other product or company names
mentioned herein are the trademarks of their respective owners.
FORWARD-LOOKING STATEMENTS
This communication may contain forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995. These
statements or disclosures may discuss goals, intentions and expectations
as to future trends, plans, events, results of operations, cash flow or
financial condition, or state other information relating to, among other
things, Office Depot, based on current beliefs and assumptions made by,
and information currently available to, management. Forward-looking
statements generally will be accompanied by words such as “anticipate,”
“believe,” “plan,” “could,” “estimate,” “expect,” “forecast,”
“guidance,” “outlook,” “intend,” “may,” “possible,” “potential,”
“predict,” “project,” “propose” or other similar words, phrases or
expressions, or other variations of such words. These forward-looking
statements are subject to various risks and uncertainties, many of which
are outside of Office Depot’s control. There can be no assurances that
Office Depot will realize these expectations or that these beliefs will
prove correct, and therefore investors and stockholders should not place
undue reliance on such statements.
Factors that could cause actual results to differ materially from those
in the forward-looking statements include, among other things, highly
competitive office products market and failure to differentiate Office
Depot from other office supply resellers or respond to decline in
general office supplies sales or to shifting consumer demands;
competitive pressures on Office Depot’s sales and pricing; the risk that
Office Depot may not be able to realize the anticipated benefits of
acquisitions due to unforeseen liabilities, future capital expenditures,
expenses, indebtedness and the unanticipated loss of key customers or
the inability to achieve expected revenues, synergies, cost savings or
financial performance; the risk that Office Depot is unable to transform
the business into a service-driven company or that such a strategy will
result in the benefits anticipated; failure to execute effective
advertising efforts; the risk that Office Depot is unable to
successfully maintain a relevant omni-channel experience for its
customers; failure to attract and retain key personnel, including
qualified employees in stores, service centers, distribution centers,
field and corporate offices and executive management; disruptions in
Office Depot computer systems; breach of Office Depot information
technology systems affecting reputation, business partner and customer
relationships and operations and resulting in high costs; loss of
business with government entities, purchasing consortiums, and sole- or
limited- source distribution arrangements; product safety and quality
concerns of manufacturers’ branded products and services and Office
Depot private branded products; increases in fuel and other commodity
prices; increases in the cost of material, energy and other production
costs, or unexpected costs that cannot be recouped in product pricing;
unanticipated downturns in business relationships with customers or
terms with the suppliers, third-party vendors and business partners;
disruption of global sourcing activities, evolving foreign trade policy
(including new tariffs on certain foreign made goods); a downgrade in
Office Depot credit ratings or a general disruption in the credit
markets; covenants in the credit facility and term loan; incurrence of
significant impairment charges; fluctuation in quarterly operating
results due to seasonality of Office Depot business; changes in tax laws
in jurisdictions where Office Depot operates; unexpected claims,
charges, litigation, dispute resolutions or settlement expenses; the
inability to realize expected benefits from the disposition of the
international operations; fluctuations in currency exchange rates;
changes in the regulatory environment, legal compliance risks and
violations of the U.S. Foreign Corrupt Practices Act; increases in wage
and benefit costs and changes in labor regulations; catastrophic events,
including the impact of weather events on Office Depot’s business;
failure to effectively manage Office Depot real estate portfolio;
volatility in Office Depot common stock price, and unanticipated changes
in the markets for Office Depot’s business segments. The foregoing list
of factors is not exhaustive. Investors and shareholders should
carefully consider the foregoing factors and the other risks and
uncertainties described in Office Depot’s Annual Reports on Form 10-K,
Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K filed
with the U.S. Securities and Exchange Commission. Office Depot does not
assume any obligation to update or revise any forward-looking statements.
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