Laureate Education Announces Special Cash Dividend

About this update from Laureate Education, Inc.

[{"type":"text","content":"MIAMI, Oct. 24, 2022 /PRNewswire/ -- Laureate Education, Inc. (NASDAQ: LAUR) (the \"Company\") today announced that its board of directors approved the payment of a special cash dividend (the \"Dividend\") equal to $0.68 per each share of the Company's Common Stock, par value $0.004 per share, to each holder of record on November 4, 2022. The Dividend is scheduled to be paid on November 17, 2022. Based on the current number of shares outstanding, the aggregate amount of the Dividend is expected to be approximately $112 million.\nEilif Serck-Hanssen, President and Chief Executive Officer, said, \"Our business is continuing to enjoy strong growth as a result of our proven operating model, market-leading brands, and commitment to academic quality. This, combined with our solid financial position, enables us to continue to return capital to our shareholders.\"\nThe Dividend will be taxable to holders of Company common stock. The Dividend will be treated as a dividend for U.S. federal income tax purposes to the extent of the Company's current or accumulated earnings and profits (as determined for U.S. federal income tax purposes). To the extent that the Dividend exceeds the Company's current and accumulated earnings and profits, the Dividend will first be treated as a non-taxable return of capital, causing a reduction in the tax basis of a holder's shares, and any amounts in excess of a holder's tax basis will result in capital gain.\nThe determination of the Company's current and accumulated earnings and profits as relevant for purposes of the Dividend depends on the Company's financial results for the 2022 taxable year and a review of certain other factors. Following the close of the 2022 taxable year and an evaluation of the Company's earnings and profits, the Company will make appropriate disclosure as to the portion of the Dividend, if any, that was paid out of the Company's current or accumulated earnings and profits.\nAll holders of Company common stock should consult their own tax advisors to determine the particular tax consequences to them of the Dividend, including the applicability and effect of any U.S. federal, state, local, non-U.S. and other tax laws.\nForward-Looking StatementsThis press release includes certain statements which contain \"forward-looking statements\" within the meaning of the federal securities laws,...

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