|[December 05, 2013]
Capella Education Company Initiates Quarterly Dividend
MINNEAPOLIS --(Business Wire)--
Education Company (NASDAQ:CPLA), a provider of online post-secondary
education, primarily through its wholly owned subsidiary Capella
University, announced today that its board of directors has initiated a
quarterly cash dividend of $0.35 per outstanding share of common stock.
The initial cash dividend is payable on Jan. 10, 2014 to shareholders of
record as of the close of business on Dec. 23, 2013. All future
dividends are subject to declaration by Capella's board of directors and
may be adjusted due to future business needs or other factors deemed
relevant by the board of directors.
"The best use of our cash remains reinvestment in our business,
including learner success initiatives and new and innovative learning
models," said Kevin Gilligan, chairman and chief executive officer. "The
board's action reflects Capella's strong balance sheet, a stabilization
in business fundamentals and the expectation of cash generation in
excess of our operating needs."
The board of directors previously authorized a share repurchase program
under which approximately $53 million remained as of Sept. 30, 2013. The
timing and volume of share repurchases are at the discretion of
management pending market and other conditions.
Certain information in this news release does not relate to historical
financial information, including statements relating to our future
prospects and our expectations regarding our revenues, enrollment, and
operating performance, cash flow generation and may be deemed to
constitute forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. The company cautions investors
not to place undue reliance on any such forward-looking statements,
which are based on information available at the time those statements
are made or management's good faith belief as of that time with regard
to future events, and should not be read as a guarantee of future
performance or results. Such statements are subject to certain risks and
uncertainties that could cause the company's actual results in the
future to differ materially from its historical results and those
presently anticipated or projected. The company undertakes no obligation
to update its forward-looking statements to reflect events or
circumstances arising after such date.
Among these risks and uncertainties are exectations and assumptions
concerning revenues, managing increases in our expenses; managing risks
associated with the overall competitive environment and general economic
conditions; and anticipated timing and results of capital expenditures
or other investments.
Other factors that could cause the company's results to differ
materially from those contained in its forward-looking statements are
included under, among others, the heading "Risk Factors" in our most
recent Form 10-K and Form 10-Qs on file with the Securities and Exchange
Commission and other documents filed by the company with the Securities
and Exchange Commission.
About Capella Education Company
Founded in 1991, Capella Education Company is a leader in online
education, primarily through our wholly owned subsidiary Capella
University, a regionally accredited* online university. In addition,
Capella Education Company offers online education through Resource
Development International Ltd. (RDI), an independent provider of United
Kingdom (UK) university distance learning qualifications. Capella
Education Company also owns an innovative startup company called Sophia (http://www.sophia.org)
- a social teaching and learning platform that integrates education with
Capella University (News - Alert) offers online graduate degree programs in business,
counseling, education, health administration, homeland security, human
resource management, human services, information technology, nonprofit
management and leadership, nursing, psychology, public administration,
public health, public safety, and social work, and bachelor's degree
programs in business, information technology, nursing, psychology, and
public safety. These academic programs are designed to help working
adults advance in their careers, combining high quality,
competency-based curricula with the convenience and flexibility of an
online learning format. Currently, Capella University offers 43 graduate
and undergraduate degree programs with 145 specializations. As of Sept.
30, 2013, approximately 35,000 learners were enrolled with over 70
percent of learners enrolled in graduate degree programs. For more
information about Capella Education Company, please visit http://www.capellaeducation.com.
For more information about Capella University, please visit http://www.capella.edu
or call 1.888.CAPELLA (227.3552).
Resource Development International Ltd. partners with a number of the
top 100 universities in the UK to develop, validate and deliver UK
higher education qualifications, predominantly through online courses.
For more information, visit http://www.rdi.co.uk.
Sophia is a first-of-its-kind social education platform that offers
students many ways to learn by making free, credible, academic content
available to anyone, anywhere, at anytime. The site offers tens of
thousands of tutorials created by hundreds of teachers and experts that
are taught in a variety of ways. The platform further enhances the
learning process by offering quizzes, assessing learning preferences and
providing learning paths. For more information, visit www.sophia.org.
*Capella University is accredited by The Higher Learning Commission and
is a member of the North Central Association of Colleges and Schools
Capella University, Capella Tower, 225 South Sixth Street, Ninth Floor,
Minneapolis, MN 55402, 1.888.CAPELLA (227.3552), http://www.capella.edu.
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