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Press release from Business Wire

Iron Mountain Incorporated Announces 200% Increase to Quarterly Dividend

<p class='bwalignc'> <i>Raises Annual Dividend Rate to $0.75 per Share</i> </p>

Monday, December 13, 2010

Iron Mountain Incorporated Announces 200% Increase to Quarterly Dividend08:30 EST Monday, December 13, 2010 BOSTON (Business Wire) -- Iron Mountain Incorporated (NYSE: IRM), the information management company, announced today that its board of directors has declared a quarterly cash dividend of $0.1875 per share, or $0.75 per share on an annualized basis. This represents an increase of 200% over the quarterly dividend previously paid. The dividend is payable on January 14, 2011 to stockholders of record on December 27, 2010. “The increase in Iron Mountain's dividend is the result of our disciplined management approach and the success we've had as an organization driving higher profitability and strong cash flows,” said Bob Brennan, president and CEO. “The strength of our balance sheet and our cash flows positions us to increase our dividend and allows our stockholders to further participate in the Company's success. The increased dividend reflects the Board's confidence in our ability to grow our business profitably while delivering strong, sustainable returns for our investors.” The declaration and payment of future quarterly dividends are in the discretion of the board of directors based on their determination that doing so is in the best interest of Iron Mountain stockholders. In a separate announcement, the Company announced that it intends to call for redemption the remaining $231 million aggregate principal amount outstanding of its 7-3/4% Senior Subordinated Notes due 2015. About Iron Mountain Iron Mountain Incorporated (NYSE: IRM) provides information management services that help organizations lower the costs, risks and inefficiencies of managing their physical and digital data. The Company's solutions enable customers to protect and better use their information—regardless of its format, location or lifecycle stage—so they can optimize their business and ensure proper recovery, compliance and discovery. Founded in 1951, Iron Mountain manages billions of information assets, including business records, electronic files, medical data, emails and more for organizations around the world. Visit www.ironmountain.com for more information. This press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and federal securities laws, and is subject to the safe-harbor created by such Act. Forward-looking statements include statements regarding the Company's intent to pay dividends, the Company's financial ability and sources to fund the dividend policy and the amounts of such dividends and statements regarding our goals, beliefs, future growth strategies, investment objectives, plans and current expectations. These statements involve known and unknown risks, uncertainties and other factors that may cause the actual results to be materially different from those contemplated in the forward-looking statements. Such factors include, but are not limited to: (i) the price, volume or timing of stock repurchases may be impacted by legal restrictions or limits under a Rule 10b5-1 trading plan; (ii) alternative, more attractive investments to dividends or stock repurchases that may become available; (iii) the cost to comply with current and future laws, regulations and customer demands relating to privacy issues; (iv) the impact of litigation that may arise in connection with incidents in which we fail to protect the Company's customers' information;(v) changes in the price for the Company's services relative to the cost of providing such services; (vi) changes in customer preferences and demand for the Company's services;(vii) in the various digital businesses in which the Company is engaged, the cost of capital and technical requirements, demand for the Company's services or competition for customers; (viii) the Company's ability or inability to complete acquisitions on satisfactory terms and to integrate acquired companies efficiently; (ix) the cost or potential liabilities associated with real estate necessary for the Company's business; (x) the performance of business partners upon whom the Company depends for technical assistance or management expertise outside the United States; (xi) changes in the political and economic environments in the countries in which the Company's international subsidiaries operate; (xii) claims that the Company's technology violates the intellectual property rights of a third party; (xiii) other trends in competitive or economic conditions affecting Iron Mountain's financial condition or results of operations not presently contemplated; and (xiv) other risks described more fully in the Company's Annual Report on Form 10-K under “Item 1A. Risk Factors.” Except as required by law, Iron Mountain undertakes no obligation to release publicly the result of any revision to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. Iron Mountain IncorporatedStephen P. Golden, 617-535-4799Vice President, Investor Relationssgolden@ironmountain.com