Pre-Paid Legal Services Announce Stock Repurchase

ADA, Okla., March 19 /PRNewswire-FirstCall/ -- Pre-Paid Legal Services, Inc. (NYSE: PPD) , today announced that our Board of Directors has authorized an additional repurchase of 1 million shares, as we have purchased 11.7 million shares of our previously announced stock repurchase authorizations totaling 12 million shares.

During 2007, we have returned $13.6 million to shareholders through the repurchase of 320,672 shares of common stock, at an average per share price of $42.37. Pursuant to the repurchase program originally announced on April 6, 1999, we have returned $309.6 million to shareholders through the purchase of 11.7 million shares, average price of $26.47 per share, and $17.1 million in dividends for a combined total of $326.6 million representing more than 115 percent of our net earnings during the same timeframe. We have reduced the number of shares outstanding by approximately 43% from 23.7 million at March 31, 1999 to approximately 13.4 million today. Purchases pursuant to the new repurchase authorization will be made at prices that we consider attractive. We expect to continue purchases after our 2007 first quarter earnings conference call scheduled for April 25, 2007. No time limit has been set for completion of the additional share repurchases.

 

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