Company Website:
http://www.egov.com
OLATHE, Kan. -- (Business Wire)
NIC Inc. (NASDAQ: EGOV),
the dominant provider of official state eGovernment
services, today announced that its Board of Directors declared a special
cash dividend of 50 cents per share on October 27, 2014, payable on
November 20, 2014, to stockholders of record on November 7, 2014. The
dividend payout will total approximately $33.0 million based on the
current number of shares outstanding.
“Our philosophy has been to return capital to stockholders that is not
strategically necessary to re-invest in the business,” said Harry
Herington, NIC Chief Executive Officer and Chairman of the Board. “I am
pleased that once again our strong, recurring cash flows have allowed us
to pay a special cash dividend.”
Including the dividend declared on October 27, 2014, more than $205.0
million has been returned to stockholders in the form of special cash
dividends since 2007.
About NIC
Founded in 1992, NIC (NASDAQ: EGOV) is the nation's leading provider of
official government websites, online services, and secure payment
processing solutions. The Company's innovative eGovernment services help
make government more accessible to everyone through technology. The
family of NIC companies provides eGovernment solutions for more than
3,500 federal, state, and local agencies in the United States. Forbes
has named NIC as one of the “100 Best Small Companies in America” six
times, most recently ranked at No. 36 (2014), and the Company has been
included on the Barron’s 400 Index for four consecutive years.
Additional information is available at http://www.egov.com.
Cautionary Statement Regarding Forward-Looking Information
Any statements contained in this release that do not relate to
historical or current facts constitute forward-looking statements. These
statements include statements regarding the Company’s potential
financial performance for the current fiscal year, statements regarding
the planned implementation of new portal contracts and projects under
existing portal contracts, and statements regarding continued
implementation of NIC’s business model and its development of new
products and services. Forward-looking statements are subject to
inherent risks and uncertainties and there can be no assurance that such
statements will prove to be correct. There are a number of important
factors that could cause actual results to differ materially from those
suggested or indicated by such forward-looking statements. These
include, among others, NIC’s ability to successfully integrate into its
operations recently awarded eGovernment contracts; NIC's ability to
implement its new portal contracts and new projects in a timely and
cost-effective manner; NIC’s ability to successfully increase the
adoption and use of eGovernment services; the possibility of reductions
in fees or revenues as a result of budget deficits, government shutdowns
or changes in government policy; the success of the Company in renewing
existing contracts and in signing contracts with new states and federal
government agencies; continued favorable government legislation; NIC’s
ability to develop new services; existing states and agencies adopting
those new services; acceptance of eGovernment services by businesses and
citizens; competition; the possibility of security breaches through
cyber attacks and any resulting liability; and general economic
conditions and the other important cautionary statements and risk
factors described in NIC's 2013 Annual Report on Form 10-K filed with
the Securities and Exchange Commission on February 27, 2014. Any
forward-looking statements made in this release speak only as of the
date of this release. NIC does not intend to update these
forward-looking statements and undertakes no duty to any person to
provide any such update under any circumstances.
Contacts:
NIC Inc.
Angela Davied, 913-754-7054
adavied@egov.com
Source: NIC Inc.
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