WILMINGTON, N.C., Nov. 14 PPD, Inc.(Nasdaq: PPDI) today announced that its board of directors declared a cashdividend for the fourth quarter of 2007 under its annual cash dividend policy.As recently announced, the board of directors amended the annual cash dividendpolicy to increase the annual dividend rate from $0.12 to $0.40 per share.After giving effect to this amendment, the quarterly cash dividend will equal$0.10 per share. The record date for the fourth quarter dividend is December14, 2007, and the payment date is December 28, 2007. The annual cash dividendpolicy and the payment of future quarterly cash dividends under that policyare subject to the continuing determination by the board of directors that thepolicy remains in the best interests of the company's shareholders and incompliance with applicable laws and agreements.
PPD is a leading global contract research organization providingdiscovery, development and post-approval services as well as compoundpartnering programs. Our clients and partners include pharmaceutical,biotechnology, medical device, academic and government organizations. Withoffices in 30 countries and more than 10,000 professionals worldwide, PPDapplies innovative technologies, therapeutic expertise and a commitment toquality to help its clients and partners maximize returns on their R&Dinvestments and accelerate the delivery of safe and effective therapeutics topatients. For more information, visit our Web site at http://www.ppdi.com.
Except for historical information, all of the statements, expectations andassumptions, including expectations and assumptions about the payment offuture dividends under the annual dividend policy, contained in this newsrelease are forward-looking statements that involve a number of risks anduncertainties. Although PPD attempts to be accurate in making these forward-looking statements, it is possible that future circumstances might differ fromthe assumptions on which such statements are based. In addition, otherimportant factors which could cause results to differ materially include thefollowing: economic conditions and outsourcing trends in the pharmaceutical,biotechnology and medical device industries and government-sponsored researchsector; continued success in sales growth; loss of large contracts;competition within the outsourcing industry; the ability to attract and retainkey personnel; dependence on collaborative relationships; rapid technologicaladvances that make our products and services less competitive; risks that wemay not continue our dividend policy; and the other risk factors set forthfrom time to time in the SEC filings for PPD, copies of which are availablefree of charge upon request from the PPD investor relations department.Contact: Analysts/Investors: Steve Smith +910 558 7585 [email protected]
Media: Sue Ann Pentecost +919 456 5890 [email protected]
SOURCE PPD, Inc.