NEW YORK--(BUSINESS WIRE)--
Barnes & Noble, Inc. (NYSE: BKS) today announced that its
Board of Directors has authorized a new stock repurchase program of up
to $50 million of its common shares, to be utilized at the Company's
discretion. Stock repurchases under this program may be made through
open market and privately negotiated transactions from time to time and
in such amounts as management deems appropriate. The repurchase program
has no expiration date and may be suspended or discontinued at any time.
Additionally, the Board of Directors declared a quarterly cash dividend
of $0.15 per share, payable on April 28, 2017 to stockholders of record
at the close of business on April 7, 2017.
About Barnes & Noble, Inc.
Barnes & Noble, Inc. (NYSE:BKS) is a Fortune 500 company, the nation's
largest retail bookseller, and a leading retailer of content, digital
media and educational products. The Company operates 634 Barnes & Noble
bookstores in 50 states, and one of the Web's premier e-commerce sites,
The Nook Digital business offers a lineup of popular NOOK® tablets and
eReaders and an expansive collection of digital reading and
entertainment content through the NOOK Store®. The NOOK Store features
more than 4.5 million digital books in the US (www.nook.com),
plus periodicals and comics, and offers the ability to enjoy content
across a wide array of popular devices through Free NOOK Reading Apps™
available for Android™, iOS® and Windows®. General information on Barnes
& Noble, Inc. can be obtained by visiting the Company's corporate
website at www.barnesandnobleinc.com.
BKS - Financial
This press release contains certain forward-looking statements (within
the meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended) and
information relating to Barnes & Noble that are based on the beliefs of
the management of Barnes & Noble as well as assumptions made by and
information currently available to the management of Barnes & Noble.
When used in this communication, the words "anticipate," "believe,"
"estimate," "expect," "intend," "plan," "will," "forecasts,"
"projections," and similar expressions, as they relate to Barnes & Noble
or the management of Barnes & Noble, identify forward-looking statements.
Such statements reflect the current views of Barnes & Noble with respect
to future events, the outcome of which is subject to certain risks,
including, among others, the general economic environment and consumer
spending patterns, decreased consumer demand for Barnes & Noble's
products, low growth or declining sales and net income due to various
factors, including store closings, higher-than-anticipated or increasing
costs, including with respect to store closings, relocation, occupancy
(including in connection with lease renewals) and labor costs, the
effects of competition, the risk of insufficient access to financing to
implement future business initiatives, risks associated with data
privacy and information security, risks associated with Barnes & Noble's
supply chain, including possible delays and disruptions and increases in
shipping rates, various risks associated with the digital business,
including the possible loss of customers, declines in digital content
sales, risks and costs associated with ongoing efforts to rationalize
the digital business and the digital business not being able to perform
its obligations under the Samsung commercial agreement and the
consequences thereof, the risk that financial and operational forecasts
and projections are not achieved, the performance of Barnes & Noble's
initiatives including but not limited to its new store concept and
e-commerce initiatives, unanticipated adverse litigation results or
effects, potential infringement of Barnes & Noble's intellectual
property by third parties or by Barnes & Noble of the intellectual
property of third parties, and other factors, including those factors
discussed in detail in Item 1A, "Risk Factors," in Barnes & Noble's
Annual Report on Form 10-K for the fiscal year ended April 30, 2016, and
in Barnes & Noble's other filings made hereafter from time to time with
Should one or more of these risks or uncertainties materialize, or
should underlying assumptions prove incorrect, actual results or
outcomes may vary materially from those described as anticipated,
believed, estimated, expected, intended or planned. Subsequent written
and oral forward-looking statements attributable to Barnes & Noble or
persons acting on its behalf are expressly qualified in their entirety
by the cautionary statements in this paragraph. Barnes & Noble
undertakes no obligation to publicly update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise after the date of this communication.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170315006341/en/
Barnes & Noble, Inc.
Ellen Keating, 212-633-3323
Senior Vice President
Vice President, Investor Relations
Source: Barnes & Noble, Inc.
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