FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--
Online Vacation Center Holdings Corp. (OTCPK:ONVC), today announced its
FY 2013 results, a share repurchase, and a special annual cash dividend
of $0.02 per share on its outstanding shares of Common Stock. This
dividend will be payable on August 15, 2014 to stockholders of record at
the close of business on June 30, 2014.
Audited FY 2013 results included Net Revenues of $12,600,984 ($1.04 per
share), Operating Income of $978,803 ($0.08 per share), and Net Income
of $591,182 ($0.05 per share). These per share calculations were based
on 12,087,398 shares outstanding at December 31, 2013. Complete Audited
Financial Statements, are available at: www.onlinevacationcenter.com/ir_home.cfm
In June of 2014, Online Vacation Center Holdings Corp. entered into an
agreement with Reginald Flosse to purchase 250,000 shares of the
Company’s common stock at a purchase price of $0.45 per share. The
purchase price was paid from the Company’s working capital. This
repurchase transaction is not part of the Company’s previously announced
In announcing the special annual cash dividend, Edward B. Rudner,
Chairman and CEO of Online Vacation Center Holdings Corp. said, “This
action demonstrates our commitment to returning cash to our
shareholders. The Board of Directors felt it was appropriate at this
time to issue a special dividend because of the strength of our
performance and our healthy cash balances. The Board, while not
committing to a regular dividend payment, will, however, consider cash
dividends in the future as circumstances warrant.”
About Online Vacation Center Holdings Corp.
Online Vacation Center Holdings Corp. is a Florida holding company,
focused on building a network of diversified vacation marketing entities
with a wide range of products that can be cross-sold to an extensive
customer base. The portfolio of Online Vacation Center Holdings Corp.
travel companies includes Online Vacation Center, one of the country's
largest cruise retailers; Dunhill Travel Deals, a newsletter publisher
with a circulation of more than 3M travel enthusiasts; Enrichment
Journeys, a cruise, land, and tour operator; and Expedia
CruiseShipCenters®, OVC, an Expedia CruiseShipCenters® franchise hosting
independent travel consultants. The Company, based in Fort Lauderdale,
Florida, has been in business since 1972. Additional information can be
found at www.onlinevacationcenter.com/ir_home.cfm.
Online Vacation Center Holdings Corp.
Edward B. Rudner, 954-377-6400
Source: Online Vacation Center Holdings Corp.