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BASKING RIDGE, N.J., Dec. 23, 1998 -- Hooper Holmes, Inc.
(Amex:HH) today announced that its Board of Directors has declared
a 2-for-1 stock split, to result in the issuance of one additional
share of common stock for every share of common stock outstanding,
and increased the quarterly cash dividend.
The stock split, which will increase the total number of fully
diluted shares outstanding to approximately 29.8 million, will be
effective January 8, 1999 for holders of record at the close of
business on that date and will be distributed on January 29,
1999.
The Board of Directors also voted to increase the quarterly cash
dividend on a post split basis to $0.0125 per share, effective with
the Company's anticipated January 1999 dividend.
Jim McNamee, Chairman and Chief Executive Officer, commented,
``Since our last stock split in August 1997, the Company has
consistently demonstrated strong revenue and earnings growth. This,
coupled with our solid cash position supports the board's decision
to declare this stock split and increase the dividend. We are very
comfortable with consensus earnings estimates for fiscal 1998 and
are optimistic about our solid business prospects for fiscal
1999.
As with our prior stock splits, we expect this action to further
increase the liquidity of our stock and ultimately broaden our
shareholder base.``
Hooper Holmes, Inc. provides medical and other underwriting
information on insurance policy applicants to the major companies
in the life and health insurance industry. The Company provides
these health information services through its 200 locations
nationwide.
Certain information contained herein includes information that
is forward looking. The matters referred to in forward looking
statements may be affected by the risks and uncertainties involved
in the Company's business. These forward looking statements are
qualified in the entirety by cautionary statements contained in the
Company's Securities and Exchange Commission filings.
"Safe Harbor" Statement under the Private
Securities Litigation Reform Act of 1995: Statements in this press
release regarding Hooper Holmes Inc.'s business which are not
historical facts are "forward-looking statements" that involve
risks and uncertainties. For a discussion of such risks and
uncertainties, which could cause actual results to differ from
those contained in the forward-looking statements, see "Risk
Factors" in the Company's Annual Report or Form 10-K for the most
recently ended fiscal year.
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