ODP - Dividend announcements

BOCA RATON, Fla. and ASHBURN, Va., Oct. 21, 2024 (GLOBE NEWSWIRE) -- Office Depot, an operating company of The ODP Corporation and a leading omnichannel retailer dedicated to supporting small business, home office, and education customers live more productive and organized lives, and Telos Corporation (NASDAQ:TLS), an authorized TSA PreCheck® enrollment provider, today announced the addition of twelve TSA PreCheck enrollment locations in California, Georgia, Kansas, Maryland, Missouri, North Carolina, Oregon, South Carolina, Tennessee, Texas and Washington. With these new locations, Telos now has 161 TSA PreCheck enrollment centers open in 28 states across the U.S., with 158 locations a

Gerry Smith to Return from Temporary Medical Leave and Resume CEO Role on February 1 David Szymanski, Long-Time Member of ODP's Board of Directors, to Retire from the Board on February 13 The ODP Corporation ("ODP" or the "Company") (NASDAQ:ODP), a leading provider of business services, products and digital workplace technology solutions to businesses and consumers, today announced that, following his temporary medical leave, Mr. Gerry Smith will resume his position as Chief Executive Officer ("CEO"), effective February 1, 2024. Upon Mr. Smith's return, Mr. Joseph S. Vassalluzzo, who had been appointed by the Company's Board of Directors to assume Mr. Smith's authority and responsibilit

The ODP Corporation ("ODP," or the "Company") (NASDAQ:ODP), a leading provider of business services, products and digital workplace technology solutions to businesses and consumers, today announced that, following the expiration of the January 2021 Cooperation Agreement between the Company and HG Vora, Marcus Dunlop, partner at HG Vora, has stepped down from the ODP Board of Directors, effective December 31, 2023. "We greatly appreciate Marcus Dunlop's service as a Board member over the past three years," said Joseph S. Vassalluzzo, Chairman of ODP's Board. "The Board thanks him for his insightful perspectives during his time as a Director and respects his decision to step down at this ti

The ODP Corporation (NASDAQ:ODP) ("the Company"), a leading provider of products, services and technology solutions to businesses and consumers, noted the open letter sent to the Company by AREX Capital Management on December 18, 2023, and issued the following statement in response: "We thank AREX for its input, as we welcome all shareholders' views on the Company and the most effective way for it to realize value for our investors. The Board regularly and actively evaluates the Company's strategic plan - including its approach to capital allocation and any potential alternatives for its businesses - and will continue to do so, informed by, among other things, the views expressed by AREX

Following the transaction, HG Vora will continue to own 3 million shares, or approximately 7.9% of the Company's outstanding common stock, and maintain representation on ODP's Board of Directors The ODP Corporation ("ODP," or the "Company") (NASDAQ:ODP), a leading provider of business services, products and digital workplace technology solutions to businesses and consumers, today announced that it has agreed to repurchase 2 million shares of common stock of the Company from HG Vora Special Opportunities Master Fund, Ltd. ("HG Vora"), at a price per share equal to $44.55, for a total purchase price of approximately $89.1 million. The Company anticipates borrowing under its asset-based lendi

Commitment to Drive Shareholder Value Includes $1 Billion Share Repurchase Plan Through 2025 Provides Long-Term Targets with Stable Revenue, Margin Expansion, and a Plan to Significantly Increase EPS by 2025 Realigned Structure Creates Solid Foundation for Steady Growth and Greater Transparency on the Value and Performance of Each Business Unit: ODP Business Solutions, Office Depot, Veyer, and Varis The ODP Corporation (NASDAQ:ODP), a leading provider of business services, products and digital workplace technology solutions to businesses and consumers, today is hosting a virtual investor meeting: Unlocking Our Potential, to highlight its newly realigned business unit structure and capita

Authorizes a New $1 Billion Share Buy-Back Plan Through 2025 and Reaffirms 2022 Guidance Third Quarter Revenue of $2.2 Billion with GAAP EPS of $1.36; Adjusted EPS of $1.48 Low-Cost Model Helps Deliver GAAP Operating Income of $84 Million and Adjusted Operating Income of $95 Million in the Third Quarter of 2022 Continued Strong Back-to-Office Trends Helps to Drive Growth in ODP Business Solutions Division The ODP Corporation ("ODP," or the "Company") (NASDAQ:ODP), a leading provider of business services, products and digital workplace technology solutions to businesses and consumers today announced results for the third quarter ended September 24, 2022. Consolidated (in millions, exc

Approves $600 Million Share Repurchase Authorization, Including Cash Tender Offer for up to $300 Million of Shares The ODP Corporation (NASDAQ:ODP) ("ODP" or the "Company"), a leading provider of business services, products and digital workplace technology solutions through an integrated B2B distribution platform, today announced preliminary unaudited results for the second quarter of 2022 and announced that its Board of Directors has unanimously approved a $600 million share repurchase authorization including the launch of a $300 million modified "Dutch auction" cash tender offer. The Company expects to report its second quarter 2022 financial results in August. Based on its preliminary

Following Review of Alternatives, Board Unanimously Determines to Maintain B2B and B2C Businesses Under Common Ownership Company Continues Strong Operating Performance and Issues Preliminary Second Quarter 2022 Guidance The ODP Corporation (NASDAQ:ODP) ("ODP" or the "Company"), a leading provider of business services, products and digital workplace technology solutions through an integrated B2B distribution platform, today announced that its Board of Directors completed its previously announced review of the public and private non-binding proposals received by the Company to acquire its consumer business, including the Office Depot and OfficeMax retail stores business and its direct chann

First Quarter Revenue of $2.2 Billion with GAAP EPS of $1.09; Adjusted EPS of $1.27 Commitment to Low-Cost Model Helped Drive GAAP Operating Income of $76 Million and Adjusted Operating Income of $88 Million in the First Quarter of 2022 Improved Back-to-Office Trends Drove Growth in Business Solutions Division Continued to Make Progress on Strategic Initiatives Including Unlocking the Value of the Consumer Business and the Operational Alignment Supporting Future Operations Further Advancement of Varis Platform and Digital Business Commerce Capabilities The ODP Corporation ("ODP," or the "Company") (NASDAQ:ODP), a leading provider of business services, products and digital workplace tec

Fourth Quarter Revenue of $2.0 Billion with GAAP EPS of $0.61; Adjusted EPS of $0.71 Commitment to Low Cost Model Helped Drive GAAP Operating Income of $31 Million and Adjusted Operating Income of $47 Million in the Fourth Quarter of 2021 GAAP Operating Income of $234 Million and Adjusted Operating Income of $305 Million for Full Year 2021 Strategic Initiatives Successes Included Progress on Operational Separation of the Business, Sale of CompuCom, and Further Advancement of Varis Platform and Digital Business Commerce Capabilities Over $300 Million Committed to Shareholders in 2021 Through Stock Repurchases The ODP Corporation ("ODP," or the "Company") (NASDAQ:ODP), a leading provider

Announces It Has Received a Proposal from a Second Party to Acquire Its Consumer Business The ODP Corporation ("ODP" or the "Company") (NASDAQ:ODP), a leading provider of business services, products and digital workplace technology solutions through an integrated B2B distribution platform, today announced that its Board of Directors determined to delay the previously announced public company separation to evaluate a potential sale of the Company's consumer business. In May 2021, the Company announced that its Board of Directors unanimously approved a plan to separate ODP into two independent, publicly-traded companies by means of a tax-free spin-off to ODP shareholders. In November 2021,

The ODP Corporation (NASDAQ:ODP), a leading provider of business services, products and digital workplace technology solutions through an integrated B2B distribution platform with an online presence and approximately 1,100 stores ("ODP" or the "Company"), announced today that it has entered into accelerated share repurchase plan ("ASR") agreements with Goldman Sachs & Co. LLC and JPMorgan Chase Bank, National Association to repurchase an aggregate of $150 million of the Company's stock. ODP will execute the ASRs under its existing stock repurchase program. When combined with the Company's previously completed share repurchases, ODP will have committed to return more than $300 million of cap

Revenue of $2.2 Billion with GAAP EPS of $1.33; Adjusted EPS of $1.76 Commitment to Low Cost Model Helped Drive GAAP Operating Income of $104 Million and Adjusted Operating Income of $122 Million Continued Progress on Separation Including Previously Announced CEO Appointments Repurchased Shares Under Previously Announced Stock Repurchase Authorization The ODP Corporation ("ODP," or the "Company") (NASDAQ:ODP), a leading provider of business services, products and digital workplace technology solutions through an integrated B2B distribution platform, today announced results for the third quarter ended September 25, 2021. Consolidated (in millions, except per share amounts) (1) 3Q21

Improving Business Environment and Low Cost Model Helped Drive 6% Increase YOY in Revenue and Strong Overall Results Continued Progress on Previously Announced Spin Transaction Modified Plan for Separation to Include Spin-off of Consumer Business as Opposed to Previously Announced Spin-off of B2B Businesses Positioned to Capture Demand During Upcoming Back-to-School Season Repurchased Shares Under Previously Announced Stock Repurchase Authorization The ODP Corporation ("ODP," or the "Company") (NASDAQ:ODP), a leading provider of business services, products and digital workplace technology solutions through an integrated B2B distribution platform, today announced results for the seco

BOCA RATON, Fla.--(BUSINESS WIRE)--The ODP Corporation (“ODP,” or the “Company”) (NASDAQ: ODP), a leading provider of business services, products and digital workplace technology solutions through an integrated B2B distribution platform with an online presence and approximately 1,100 stores, today confirmed that its Board of Directors has received a proposal from USR Parent, Inc. (“Staples”), the parent company of Staples and a portfolio company of Sycamore Partners, to acquire the Company’s consumer business for $1 billion in cash. ODP’s Board of Directors is carefully reviewing Staples’ proposal with the assistance of its financial and legal advisors to determine the course of ac

First Quarter Revenue of $2.4 Billion with GAAP Diluted EPS of $0.95; Adjusted EPS of $1.21 Low-Cost Model Helped Drive Operating Income of $55 million; Adjusted Operating Income of $91 million Delivered Significant Cash Flow with $1.7 Billion in Total Available Liquidity at Quarter End Announced Plans to Separate ODP into Two Independent, Publicly Traded Companies Board Approves a New $300 Million Stock Repurchase Authorization Plan for CompuCom Sale Process Continues to Proceed The ODP Corporation ("ODP," or the "Company") (NASDAQ:ODP), a leading provider of business services, products and digital workplace technology solutions through an integrated B2B distribution platform with a

Plans Tax-Free Spin-Off of Its Business-to-Business (B2B) Solutions Provider ("NewCo") Separation Creates Strategic Flexibility and Enhances Prospects for Shareholder Value Creation Expects to Complete Separation During First Half of 2022 The ODP Corporation (NASDAQ:ODP), a leading provider of business services, products and digital workplace technology solutions through an integrated B2B distribution platform with an online presence and approximately 1,100 stores (the "Company"), announced today that its Board of Directors has unanimously approved a plan to pursue a separation of the Company into two independent, publicly traded companies, each with a unique and highly focused strategy

BOCA RATON, Fla.--(BUSINESS WIRE)--The Board of Directors of The ODP Corporation (“ODP,” or the “Company”) (NASDAQ:ODP), a leading provider of business services, products and digital workplace technology solutions through an integrated B2B distribution platform, today responded to and rejected unanimously a proposal from USR Parent Inc., the Sycamore-affiliated owner of Staples (“Staples”), to acquire various ODP assets. Staples’ proposal was contained in a letter dated March 10, 2021, from Stefan Kaluzny, Managing Director of Sycamore Partners and a Member of the Board of Directors of USR Parent, Inc., and accompanied by a letter of intent (the “LOI”) by which Staples proposed tha

BOCA RATON, Fla.--(BUSINESS WIRE)--The ODP Corporation (“ODP,” or the “Company”) (NASDAQ: ODP), a leading provider of business services, products and digital workplace technology solutions through an integrated B2B distribution platform, today announced results for the fourth quarter and full year ended December 26, 2020. Consolidated (in millions, except per share amounts) 4Q20 4Q19 FY20 FY19 Sales $2,288 $2,508 $9,710 $10,647 Sales change from prior year period (9)%   (9)%   Operating income (loss) $21 $74 $(252) $191 Adjusted operating income (1) $44 $92 $300 $367 Net income (loss) $18

BOCA RATON, Fla.--(BUSINESS WIRE)--The ODP Corporation (“ODP,” or the “Company”) (NASDAQ: ODP), a leading provider of business services, products and digital workplace technology solutions through an integrated B2B distribution platform and retail locations, today sent the following letter to Stefan Kaluzny, Managing Director of Sycamore Partners and a Member of the Board of Directors of USR Parent Inc., the Sycamore-affiliated owner of Staples. The full content of the letter is published below. Mr. Kaluzny, The Board of Directors of The ODP Corporation (“ODP”) has carefully reviewed and considered USR Parent Inc.’s (“Staples”) January 11, 2021 proposal to acquire 100% of ODP’s i