-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, VS6OGq6OYnbbsSJKYcXwjn3AQ7R2aAbphB/AQzgTwI/Gq2MVWDyP5bx8I80AdztM 4X2b6HlzUeF4MZuuL7wSWA== 0001157523-06-011384.txt : 20061115 0001157523-06-011384.hdr.sgml : 20061115 20061115103034 ACCESSION NUMBER: 0001157523-06-011384 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20061115 ITEM INFORMATION: Other Events FILED AS OF DATE: 20061115 DATE AS OF CHANGE: 20061115 FILER: COMPANY DATA: COMPANY CONFORMED NAME: DEVRY INC CENTRAL INDEX KEY: 0000730464 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-EDUCATIONAL SERVICES [8200] IRS NUMBER: 363150143 STATE OF INCORPORATION: DE FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-13988 FILM NUMBER: 061218367 BUSINESS ADDRESS: STREET 1: ONE TOWER LN STREET 2: SUITE 1000 CITY: OAKBROOK TERRACE STATE: IL ZIP: 60181 BUSINESS PHONE: 6305717700 MAIL ADDRESS: STREET 1: ONE TOWER LANE CITY: OAKBROOK STATE: IL ZIP: 60181 8-K 1 a5275248.txt DEVRY INC. 8-K 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 Date of Report (Date of earliest event reported) November 15, 2006 ------------------------------- DeVry Inc. - -------------------------------------------------------------------------------- (Exact name of registrant as specified in its charter) DELAWARE 1-13988 36-3150143 - -------------------------------------------------------------------------------- (State or other jurisdiction (Commission (IRS Employer of incorporation) File Number) Identification No.) ONE TOWER LANE, OAKBROOK TERRACE, IL 60181 - -------------------------------------------------------------------------------- (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code (630) 571-7700 ----------------------------- 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 (see General Instruction A.2 below): [ ] Written communications pursuant to Rule 425 under 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)) Total number of pages: 6 1 DEVRY INC. FORM 8-K INDEX Page No. Item 8.01 - Other Events 3 Signatures 3 Exhibit Index 4 2 Item 8.01 - Other Events On November 15, 2006, DeVry Inc. issued a press release announcing that its board of directors had adopted a dividend policy, declared its first dividend and approved a stock repurchase program. The full text of that press release is included in Exhibit 99.1 in this Form 8-K. 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 thereunto duly authorized. DEVRY INC. ------------- (REGISTRANT) Date: November 15, 2006 /s/ Ronald L. Taylor -------------------- Ronald L. Taylor Chief Executive Officer Date: November 15, 2006 /s/ Richard M. Gunst -------------------- Richard M. Gunst Senior Vice President, Chief Financial Officer And Treasurer 3 EXHIBIT INDEX Exhibit Sequentially Number Description Numbered Page - -------------------------------------------------------------------------------- 99.1 Press release dated November 15, 2006, announcing that the Company's board of directors had adopted a dividend policy, declared its first dividend and approved a stock repurchase program. 5-6 4 EX-99.1 2 a5275248ex99-1.txt EXHIBIT 99.1 Exhibit 99.1 DeVry Inc. Adopts Dividend Policy and Stock Repurchase Program OAKBROOK TERRACE, Ill.--(BUSINESS WIRE)--Nov. 15, 2006--DeVry Inc. (NYSE: DV), an international higher education company, announced today that its board of directors had adopted a dividend policy, declared its first dividend and approved a stock repurchase program. DeVry's board of directors declared today a dividend of $0.05 per share, payable on January 15, 2007, to common stockholders of record as of December 20, 2006. The Board stated its intent to declare dividends on a semi-annual basis, resulting in an annual dividend rate of $0.10 per share. The stock repurchase plan allows the company to buy back up to $35 million of its common stock within the next two years. The timing and amount of any repurchase will be determined by company management based on its evaluation of market conditions and other factors. These repurchases may be made through the open market, including block purchases, or in privately negotiated transactions, or otherwise. The buyback will be funded through available cash balances and may be suspended or discontinued at any time. Shares of stock repurchased under the program will be held as treasury shares. "Initiation of a dividend program and adoption of the plan to repurchase company stock reflect DeVry's strong cash flow generation, long-term growth prospects and focus on enhancing shareholder value," said Daniel Hamburger, president and chief operating officer of DeVry Inc. "In addition to these programs, we plan to continue to reduce debt and make investments in our business to fuel future growth and profitability." About DeVry Inc. DeVry Inc. (NYSE: DV) is the holding company for DeVry University, Ross University, Chamberlain College of Nursing and Becker Professional Review. DeVry University, which includes Keller Graduate School of Management, offers associate, bachelor's and master's degree programs in technology, healthcare technology, business and management. Ross University, through its schools of Medicine and Veterinary Medicine, offers both doctor of medicine and doctor of veterinary medicine degree programs. Chamberlain College of Nursing offers associate and bachelor's degree programs in nursing. Becker Professional Review, which includes Stalla CFA Review, provides preparatory coursework for the certified public accountant and chartered financial analyst exams. DeVry Inc. is based in Oakbrook Terrace, Ill. For more information about the company, visit http://www.devryinc.com. Certain statements contained in this release concerning DeVry's future performance, including those statements concerning DeVry's expectations or plans, may constitute forward-looking statements subject to the Safe Harbor Provision of the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally can be identified by phrases such as DeVry Inc. or its management "believes," "expects," "anticipates," "foresees," "forecasts," "estimates" or other words or phrases of similar import. Actual results may differ materially from those projected or implied by these forward-looking statements. Potential risks, uncertainties and other factors that could cause results to differ are described more fully in Item 1A, "Risk Factors," in the Company's most recent Annual Report on Form 10-K for the year ending June 30, 2006 and filed with the Securities and Exchange Commission on September 13, 2006, as well as in its Quarterly Report on Form 10-Q for the quarter ended September 30, 2006, and the documents incorporated by reference therein that constitute forward-looking statements. CONTACT: DeVry Inc. Investor Contact: Joan Bates jbates@devry.com 630-574-1949 or Dresner Corporate Services Media Contact: David Gutierrez dgutierrez@dresnerco.com 312-780-7204 -----END PRIVACY-ENHANCED MESSAGE-----