ID NEWS: Sysco announces new share repurchase program, quarterly dividend

The board of directors of Sysco Corp., Houston, has approved a 20-million share repurchase program and declared a regular cash dividend of 11 cents per share, payable October 24, 2003, to common shareholders of record at the close of business on October 3.

"The decision by the board to approve the share buyback and the current quarterly dividend payout signifies their confidence that Sysco can continue to generate significant cash flow after investing sufficient capital to grow our business," comments Richard J. Schnieders, chairman and ceo.

The share repurchase program is Sysco's 11th such program since fiscal 1992. Nine of these prior programs have been completed and the 10th, a 20-million share repurchase program approved in July 2002, has approximately 9 million shares remaining.
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