UNITED STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
______________
FORM 8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the Securities Exchange Act of 1934
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Date of Report (Date of earliest event reported): |
March 7, 2013 |
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MENTOR GRAPHICS CORPORATION |
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(Exact name of registrant as specified in charter) |
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OREGON |
0-134795 |
93-0786033 |
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(State or other jurisdiction of incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) |
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8005 S.W. BOECKMAN ROAD WILSONVILLE, OR |
97070-7777 |
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(Address of principal executive offices) |
(Zip Code) |
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Registrant’s telephone number, including area code: |
(503) 685-7000 |
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NO CHANGE |
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(Former name or former address, if changed since last report.) |
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
⃞ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
⃞ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
⃞ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
⃞ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Item 8.01 |
Other Events. |
| On March 7, 2013, Mentor Graphics Corporation (the “Company”) issued a press release announcing its Board of Directors adopted a quarterly dividend policy. The press release is attached as Exhibit 99.1 hereto and is incorporated herein by reference. | |
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Item 9.01 |
Financial Statements and Exhibits. |
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(d) |
Exhibits. |
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99.1 Press release issued by the Company on March 7, 2013. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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MENTOR GRAPHICS CORPORATION |
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| (Registrant) | |||
| Date: | March 7, 2013 | By: |
/s/ Dean M. Freed |
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Dean M. Freed |
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Vice President and General Counsel |
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3
Exhibit 99.1
Mentor Graphics Announces Initiation of Quarterly Dividend
WILSONVILLE, Ore.--(BUSINESS WIRE)--March 7, 2013--Mentor Graphics Corporation (NASDAQ: MENT) today announced that its Board of Directors has adopted a dividend policy under which Mentor Graphics intends to pay an annual cash dividend of $0.18 per share on its common stock. The first dividend of $0.045 per share of outstanding common stock will be paid to shareholders of record as of the close of business on March 22, 2013, with a payment date of April 10, 2013.
“The Board’s decision to initiate a quarterly dividend reflects our confidence in Mentor Graphics’ business and our commitment to deploying capital to maximize shareholder value for the long-term,” said Walden C. Rhines, chairman and CEO of Mentor Graphics. “The dividend will augment our capital deployment strategy, which will continue to include strategic acquisitions and share repurchases while retaining a strong balance sheet and financial position.”
Mentor Graphics has approximately $76 million available under its current $200 million share repurchase program. The company has repurchased $124 million of Mentor Graphics stock, or approximately 8% of outstanding common, over the past two fiscal years at an average cost of $13.69 per share.
Future declarations of quarterly dividends and the establishment of future record and payment dates are subject to the quarterly determination of the Mentor Graphics Board of Directors and that doing so is in the best interest of the company’s shareholders. Payment of dividends is also subject to limits in the company’s revolving credit agreement.
About Mentor Graphics
Mentor Graphics Corporation is a world leader in electronic hardware and software design solutions, providing products, consulting services and award-winning support for the world’s most successful electronic, semiconductor and systems companies. Established in 1981, the company reported revenues in the last fiscal year of about $1,090 million. Corporate headquarters are located at 8005 S.W. Boeckman Road, Wilsonville, Oregon 97070-7777. World Wide Web site: http://www.mentor.com/.
(Mentor Graphics is a registered trademark of Mentor Graphics Corporation. All other company or product names are the registered trademarks or trademarks of their respective owners.)
Safe Harbor Statement
This release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 regarding the Company’s expected results of operations and payment of dividends in the future. Investors are cautioned that any forward-looking statements are based on current information and expectations, and are subject to risks and uncertainties discussed in Company filings with the Securities and Exchange Commission. The Company undertakes no obligation to publicly update any forward-looking statement contained in this release, whether as a result of new information, future developments or otherwise, except as may be required by law.
CONTACT:
Mentor Graphics
Joe Reinhart, 503-685-1462
joe_reinhart@mentor.com