DST Systems, Inc. Announces Extension To Existing Stock Repurchase Plan and Adoption of a New Plan
March 1, 2002
KANSAS CITY, MO. (March 1, 2002) - DST Systems, Inc. (DST) announced today that the DST Board of Directors extended through April 30, 2003, DST's previously announced share repurchase program. The program was scheduled to expire September 30, 2002. The number of shares remaining to be repurchased under the existing program is approximately 2.9 million shares.
DST also announced today that its Board of Directors authorized a new share repurchase program beginning March 4, 2002 and ending February 29, 2004. Under the new program, up to an additional 6 million shares of DST's common stock may be purchased from time to time for general corporate purposes. Such purchases will be made in private or open market transactions and in compliance with SEC regulations. The share repurchase program will be funded primarily from cash flow and other available sources.
Originally established in 1969, DST is a leading global provider of sophisticated information processing and computer software services and products to the financial services industry (primarily mutual funds and investment managers), video/broadband/satellite TV industry and other service industries.
The above release includes forward-looking statements. Actual future results could differ materially from those anticipated by such forward-looking statements. The differences could be caused by a number of factors, including but not limited to, those factors identified in a Current Report on Form 8-K/A-3 dated March 25, 1999, filed by the company with the Securities and Exchange Commission (Commission File No. 1-14036). DST will not update any forward-looking statements in this press release to reflect future events.
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