Citizens Communications Announces Stock Repurchase Program; Quarterly Dividend Declared.STAMFORD, Conn. -- Citizens Communications Citizens Communications is the parent company of Frontier Telephone, providing telephone and internet access in 24 states. The company headquarters are located at 3 High Ridge Park in Stamford, Connecticut. Company (NYSE NYSE See: New York Stock Exchange : CZN) today announced that its Board of Directors has authorized au·thor·ize tr.v. au·thor·ized, au·thor·iz·ing, au·thor·iz·es 1. To grant authority or power to. 2. To give permission for; sanction: the repurchase re·pur·chase tr.v. re·pur·chased, re·pur·chas·ing, re·pur·chas·es To buy (something) again. n. The act of buying something that one previously sold or owned. Noun 1. of up to $250 million worth of the Company's outstanding shares of common stock over the next 12 months. Shares may be purchased in the open market or in negotiated transactions from time to time at the discretion of the Company's management. This authorization amounts to approximately 5.6 percent of the Company's current shares of common stock outstanding based on yesterday's closing pricing. Additionally, the Company announced today that it will retire at or prior to maturity all $228 million in aggregate principal amount of its outstanding 6.75 percent notes due August 2006 and 7.60 percent senior notes due June 2006 from cash on hand. In other business, the Company today announced that the Board of Directors voted to declare its regular quarterly cash dividend of $0.25 per share, payable on June 30, 2005, to shareholders of record on June 9, 2005. About Citizens Communications More information about Citizens can be found at www.czn.net. This document contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the statements. These and all forward-looking statements (including oral representations) are only predictions or statements of current plans that are constantly under review by the company. All forward-looking statements may differ from actual results. The foregoing information should be read in conjunction with the company's filings with the U.S. Securities and Exchange Commission including, but not limited to, reports on Forms 10-K and 10-Q. The company does not intend to update or revise these forward-looking statements to reflect the occurrence of future events or circumstances CIRCUMSTANCES, evidence. The particulars which accompany a fact. 2. The facts proved are either possible or impossible, ordinary and probable, or extraordinary and improbable, recent or ancient; they may have happened near us, or afar off; they are public or . |
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